Growth of Azerbaijan's corporate market hits 60 percent

Business Materials 16 June 2009 13:30 (UTC +04:00)

Azerbaijan, Baku, June 16 / Trend , N.Ismayilova/

In January-May 2009, turnover of corporate securities in Azerbaijan was 177.59 million manat which is by 62 percent tops the figure in the same period of 2008, the State Committee on Securities reported.

Turnover of stakes was 150.92 million manat which triples the figure of the same year in 2008 and growth of the primary stake market was 179 percent.

Turnover of the corporate bonds was 26.67 million manat with a 49-percent increase. The basis of the growth rate of this figure comprises growth in the secondary market for corporate bonds by 24 times.

In January-May, turnover of the market for government securities amounted to 2.178 billion manat, which is 36 percent lower than the same period last year.

Market size of government bonds rose by 133 percent, reaching 333.84 million manat, and notes market of the country's Central Bank decreased by 75 percent and was 267.67 million manat.

Operations on REPO and reverse REPO was 1.577 billion manat.

Total volume of the Azerbaijani securities market was 2.356 billion manat in January-May, 2009 with a 32-percent decrease from the same period in 2008.

On June 16, the official exchange rate is 0.8039 manat to $1.

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