Turnover of BBVB makes up 60% of all 4 exchanges in Azerbaijan in 2005

Business Materials 16 January 2006 15:07

In 2005 the turnover of the Baku Interbank Currency Exchange (BBVB) comprised 835,116m AZN ($885.6).

The BBVB told Trend over its 13-year activities the exchange had for the second time seen such a high indicator of trading sessions. Thus, in 2004 the turnover of the exchange for the first time exceeded $1bn.

As of 2005 the turnover of BBVB exceeded 60% of aggravate turnover of 4 existing exchanges in Azerbaijan.

As of totals of 2005, 1492 deals with the amount of over 769m AZN ($815.52m) have been registered at the currency section of the exchange. It is 18% less than the amount of currency trading sessions at the BBVB in 2004. In 2005, 502 trading sessions were held at the Exchange Electron Trading System (BEST). The average daily amount of trading sessions with foreign currency comprised around $3.25m, while average amount of every deal exceeded $546,000. Since the beginning of trading session at BEST from 9 July 2002, 5344 electron deals with total amount of $2,261bn have been registered among the member-banks of currency section of the BBVB. As of January to December 2005 the average sustained exchange rate of USD/AZM made up 4715,0102 AZM per US dollar, whereas as of totals of 2004 it was 4913,5706 AZM.

The leading operatorbanks at the exchange market of foreign currency in 2005 were the International Bank of Azerbaijan, Azerigasbank, Kapitalbank, Technikabank and Amrahbank. The share of the IBA in the total amount of currency deals made up 21.49%, Azerigasbank 5.05%, Kapitalbank 4.88%, Technikabank 4.69% and Amrahbank 4.47%. In general, 37 member-banks of the currency section participated in the exchange trading sessions in 2005.