Volume of exchange electronic trades with foreign currency in Azerbaijan increases by 1.6 times in November

Photo: Volume of exchange electronic trades with foreign currency in Azerbaijan increases by 1.6 times in November   
 / Business News

Baku, Azerbaijan, Dec. 6

By Emin Aliyev - Trend:

The trading volume in the currency section of the Baku Interbank Currency Exchange (BBVB) amounted to 31.343 million manats or 39,960 million in dollar equivalent in November 2013, according to the BBVB's message.

In total seven banks participated in the trades. Some 40 trade sessions were conducted and 15 deals were registered in the reporting month.

In November 2013 the trading volume in the currency section increased by 12,094 million manats or 1.6 times compared to October.

The average daily turnover in the exchange electronic trading system on USD/AZN in November reached about $1.998 million, while the average amount of each transaction was $2.664 million.

The exchange rate of national currency on USD/AZN_TOD in the reporting month remained unchanged - 0.7835 manat per USD. The average rate of the U.S. dollar compared to manat hit 0.7843 manat per $1 in November 2013.

The average monthly interest rate calculated on the basis of the applications of banks-market makers for BakIBOR loans up to 90 days in November 2013 amounted to 10.64 per cent per annum in manat and 11.02 per cent per annum in U.S. dollars. The rate on BakIBID up to 90 days was 5.08 per cent per annum in manats and 4.91 per cent in the U.S. dollars.

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Tags: BBVB