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Foreign exchange market in Azerbaijan reduces trading volumes

Business Materials 8 September 2012 17:39
Around 8 banks took part in the trades of BBVB currency section in August 2012.
Foreign exchange market in Azerbaijan reduces trading volumes

Azerbaijan, Baku, Sept. 8 / Trend /

Around 8 banks took part in the trades of BBVB currency section in August 2012. Around 42 trading sessions were conducted and 29 transactions were registered in accounting month in "Bourse E-System of Trades" (BEST). The total volume of trades of currency section in accounting month on USD/AZN hit 56.343 million manat or 71.749 million in dollar equivalent, BBVB said today.

The total volume of trades in currency section increased by 12.240 million manat or 18 percent during this period compared to July.

The average daily turnover in "Bourse E-System of Trades" on USD/AZN reached approximately $ 3.417 million, then that the average volume of each transaction hit $ 2.474 million.

It is necessary to note, that exchange rate of national currency on USD/AZN_TOD during this period increased by 0.03 percent from 0.7848 to 0.7846 for 1 USD. Thus the US dollar average rate compared to manat hit 0.7853 AZN for 1 USD in August compared to 0.7853 AZN as of July.

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