Azerbaijan, Baku, Aug.19 / Trend, N. Ismayilova /
In the first half of 2010 the amount of Azerbaijan's currency market, which increased by 0.1 percent over the same period last year amounted to 8.801 billion manat, said in the financial stability report of the Central Bank of Azerbaijan.
The amount of transactions in the unorganized foreign exchange market increased by 13.2 percent or $998.8 million, amounting to $8591.2 million, and comprising 97.6 percent of the domestic currency market.
The amount of interbank exchange transactions amounted to 3734.4billion, comprising to 43.5 percent of the unorganized currency market.
The amount of organized inter-bank currency market decreased by 82.5 percent or 989.4 million manat amounting to $209.6 million manat (2.3 percent of total domestic currency market).
Central Bank of Azerbaijan during the first half-year exercised intervention in the amount of $598.4 million, which is 1,8 times less than the same period of last year. As a result of adequate regulation of demand and proposals, during the reporting period, the official exchange rate of manat to the U.S. dollar reduced in the price only 0.04 percent.
Increase of confidence to the national currency is confirmed by decrease of amount of purchases in banks by physical and legal entities cash dollars by 31.9 percent to 1838.9 billion manat. In addition, the deviation between the official and market rate decreased in1.9 times.