The total volume of electronic trading in currency section of Baku Interbank Currency Exchange Market (BBVB) amounted to 50.974 million manat on USD/AZN, or a 65 million in dollar equivalent in July, 2013, according to a BBVB report posted on its website on Thursday.
In total, around 11 banks participated in trading. Around 46 trading sessions were held and 29 deals registered during the reported month.
The volume of trading on the USD/AZN_TOD instrument amounted to 46.262 million manat, or a 59 million in dollar equivalent and on Swap_USD/AZN_TOD_1Week instrument the turnover amounted to 4.712400 manat or a six million dollar equivalent. The average rate of the dollar to the manat amounts to 0.7854 manat to date.
The volume of trading in the currency section increased by 13.937 million manat, or 38 per cent in July compared to June.
The average daily turnover in the exchange electronic system hit approximately $2.826 million on the USD/AZN rate in July, while the average volume of each deal amounted to $2.241 million
The exchange rate of national currency on USD/AZN_TOD instrument decreased by 0.05 per cent - from 0.7831 manat to 0.7835 manat per 1 USD in the reported month. However, the average rate of US dollar to manat amounted to 0.7841 manat per 1 USD in July, 2013.
As of July 1, 2013, the total volume of trading in the organised interbank loan market operating within the exchange electronic trading system (BEST) amounted to two million in manat equivalent.
The average monthly interest rate calculated on the basis of applications of market-makers' banks for BakIBOR loans for the period of up to 90 days, amounted to 10.25 per cent per annum in manat and 11.24 per cent per annum in US dollar in July, 2013. The rate on BakIBID for the period of up to 90 days amounted to 4.38 per cent per annum in manat and 4.23 per cent in US dollars.