Azerbaijan’s central bank conducted an FX auction where lenders requested USD 105.1 mln, a decrease from the previous USD 108.1 mln. The demand was fully met at an exchange rate of 1.7 manat/USD. Sofaz, Azerbaijan’s sovereign wealth fund, participates in these bi-weekly auctions, with USD 417 mln sold in January, compared to USD 149.9 mln in December and USD 234.7 mln in November. Separately, officials from Armenia and Azerbaijan will hold talks in Berlin to address their long-standing conflict following recent diplomatic engagements.