News Column

Currency exchange trading volume decreases by 9% in Azerbaijan in May

June 6, 2014

Baku, Azerbaijan, June 6

By Zulfiyya Qurbanova - Trend:

The total trading volume in the currency section on USD / AZN totaled 25.572 million manats or $32.610 million in Bourse E-System of Trades (BEST) at Baku Interbank Currency Exchange (BBVB) in May 2014, BBVB said on June 6.

Seven banks were involved in the auction. Some 40 trading sessions were conducted and 24 deals were registered in the reporting month.

The trading volume in the currency section decreased by 2.529 million manats or 9 percent in May compared to April.

The average daily turnover in the exchange electronic trading system on USD / AZN in May 2014 reached about $1.631 million, while the average amount of each transaction was $1.359 million.

The exchange rate of national currency on USD / AZN_TOD in the reporting month increased by 0.01 percent from 0.7830 to 0.7829 manat per $1. The average rate of the U.S. dollar compared to the manat hit 0.7842 manat per $1 in May 2014.

The average monthly interest rate calculated on the basis of the applications of banks-market makers for BakIBOR loans up to 90 days in May amounted to 10.19 percent per annum in manats and 10.56 percent per annum in U.S. dollars. The rate on BakIBID up to 90 days was 5.21 percent per annum in manats and 5.06 percent in U.S. dollars.

edited by CN

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Source: Trend News Agency (Azerbaijan)

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