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Azerbaijani International Bank becomes leader of exchange market in June

Business Materials 4 July 2009 19:58 (UTC +04:00)

Azerbaijan, Baku, July 4 / Trend /

As a result of currency auctions on USD/AZN_TOD in June 2009, Baku inter-bank currency exchange determined 5 banks-leaders of currency stock exchange market in accordance with share of concluded deals headed by the International Bank of Azerbaijan, the bank said.

ASB joint-stock commercial banks, Texnika Bank, AGBank and commercial Yapi Kredi Bank Azerbaijan CJSC joined leading dealers of organized currency market. A list of banks-leading operators of exchange market of June 2009 is indicated below:

BANKS

 % of total volume

International Bank of Azerbaijan

27.29

ASB

17.84

Texnika Bank

10.47

AGBank

6.49

Yapi Kredi Bank Azerbaijan

5.19

*Deals of the Central Bank of Azerbaijan are not indicated in the table.

Roughly 21 banks participated in BBVB auction in June 2009. Roughly 40 trade sessions were conducted in report month in Exchange E-auction system. Roughly 61 deals were registered. 

Total volume of currency USD/AZN auction hit 85.47 million manat or $106,363 million in report month.

Swap_USD/AZN turnover hit 8.062 million manat or $10 million.

Average rate of dollar to manat hit 0.8062 manat.

EUR/AZN turnover hits 0.395 million manat.

Total amount of auctions in currency increased 7.7 million manat or 9 percent in report month compared to May indices.

Average daily turnover of exchange E-system of USD/AZN auction hits $5.318 million. But average amount of each deal hits $1.744 million.  

As a result of 6 months, total volume of currency hits 1.409 billion manat. It 13.77 percent more compared to amount of currency auctions in January-June 2008.

Exchange rate of national currency on USD/AZN_TOD reduced 0.04 percent from 0.8025 to 0.8028 manat per $1 in report month. Average rate of dollar to manat hit 0.8033 manat per $1 in June compared to 0.8029 manat as a result of May 209.

On July 4, the official exchange rate is 0.8042 manat to $1.

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