The Baku Interbank Currency Exchange (BICEX) seems to experiencing a rapid growth of the amount of currency transactions вЂ" the overall figure has constituted 276.144 billion manats (58.42 million U.S. dollars) as of totals of June, with 10.2 per cent of the entire turnover falling to the share of SWAP-operations, effective since January 16, 2005.
A total of 21 sessions, incorporating 114 concluded transactions, have taken place at BICEX over the reported period, and 20 banks participated in auctions. The bulk of transactions вЂ" some 207 billion manats (44 million U.S. dollars) вЂ" have been concluded against Russian rubles (RUR) and euros (EUR), a 2.2-fold performance compared to the corresponding figure a month earlier.
The BICEX also provided relevant statistics concerning the share of leading banks in the overall amount of transactions. The International Bank of Azerbaijan (IBA) has strengthened its reign, with 64.83 per cent, followed by four private banks вЂ" Rabitabank (8.81 per cent), Azerigazbank (5.77 per cent), Amrahbank (4.94 per cent) and Bank of Baku (2.93 per cent).
The national currency вЂ" manat вЂ" has rallied against U.S. dollar by 1.08 per cent or 51.39 point, from 4,756 to 4,702.94 manats per U.S. dollar. As of the end of June, the average-weighted rate of manat has made up 4,726.82 manats (per U.S. dollar), against 4,778.07 manats in May.
In general, the amount of currency transactions at BICEX has aggregated at 1.836 trillion manats (391 million U.S. dollars) since January through June, down 29.4 per cent from the year-ago figure. Meanwhile, there has been observed a 4.08 per cent revaluation of the national currency against U.S. dollar.