Approximately 71 per cent of Azerbaijani banks’ currency operations go through Bloomberg
Azerbaijan, Baku, November 28 / Trend, N. Ismailova /
Some 71 per cent of total currency operations of Azerbaijani banks are carried out through the platform of Bloomberg information/trading system, the Central Bank of Azerbaijan (CBA) reported on Monday.
"Out of forty-four banks operational in the country, twenty four banks carry out currency operations in national currency - manat - through Bloomberg platform," the CBA stated.
The transition of Azerbaijani interbank currency market to the Bloomberg system (since July 2011) is caused by the necessity of creation of an advanced operating platform with the aim of further development of the Azerbaijani bank system.
As reported, the new trading system allows its participants to track online changes of the AZN/USD exchange rate, purchase/sale operations' indexes, weighted average exchange rates, and currency demand and supply.
The rate of currency operations at the Baku Interbank Currency Exchange has remained equivalent to 8 per cent.
"The use of the new trading platform has provided transparency of the bigger part of currency transactions, which were conducted by telephone earlier," the CBA reported.