Loan dealings at currency exchange reduce by 2.5% in 2005
Trend40 interbank dealings for over 53,343m ANZ were concluded at the Baku Interbank Currency Exchange (BICE) in 2005, or 2.5% less than 2004. 82% fell to the centralized loan auctions of the National Bank of Azerbaijan (NBA), held from January to September at BICE, Trend reports.
The rest part was registered at the interbank loan market functioning within the exchange electron trading system, where the use of banks grew by 25% as compared 2004. The average use rate comprised 12.68% interest rate.
As of 1 January 2006 the average rate on placement of 90-day loans (BakIBOR Baku Interbank Offered Rate), calculated on the base of applications by 16 local commercial banks, comprised 15.54% interest rate on manat loans and 18.92% interest rate on dollar loans. The index of BakIBOR on manat loans grew by 2.4 points, dolar loans - 2.92 points as compared 1 January 2005.