Annual turnover of Baku Stock Exchange Exceeds $2bln for First Time
Azerbaijan, Baku / corr Trend U.Ismayilova / For the first time, the Baku Stock Exchange annual turnover has exceeded USD 2 bln.
For 7 months of the current year, the transactions carried out with the financial instruments traded on BSE made AZN 1,749,635. (data as of 16 July, 2007), which by converting it to the USD according to the NBA's official exchange rate, made $2,046,836. Therefore the BSE turnover forecasted by the exchange analysts at the beginning of the year to make USD 3bln. has already been fulfilled for 2/3 over the past 6.5 months.
Some 87.58% of the transactions were from state securities and repooperation shares. During the most recent period the largest specific weight was from the NBA's Notesmarket at 45.9%.
During the first 6 months of the current year, the ratio of the total turnover of the exchange to GDP totaled 13.98% of GDP, exceeding for 7.84% of the same period of 2006, when the specific weight made 6.14%.