Share of exchange transactions in national currency grows in Azerbaijan

Finance Materials 27 February 2020 22:29 (UTC +04:00)
Share of exchange transactions in national currency grows in Azerbaijan

BAKU, Azerbaijan, Feb.27

By Eldar Janashvili – Trend:

The Azerbaijani National Depositary Center registered 4,825 exchange purchase/sale transactions amounting to 12.9 billion manat ($7.6 million) in 2019, Trend reports referring to the center's statistical data on February 26.

The total number of exchange transactions decreased by 15 compared to the same period of 2018, their share in the national currency increased by 8.4 percent to make up 4,367 transactions (90 percent of the total number). In US dollars, 458 transactions (10 percent) were made, which is a decrease of 48.6 percent compared to the same period of 2018. (792 transactions).

The total volume of registered exchange transactions (in national currency and dollars - 12.88 billion (nearly $7.6) and 33.9 million manat (nearly $20.0 million), respectively) showed a decline of almost 8.5 percent compared to 2018. The share of the volume of transactions made in the national currency remained almost unchanged to make up 99.7 percent of the total volume due to a 36 percent reduction in the volume of registered transactions in dollars.

In December 2019, the number and volume of transactions in the national currency showed the maximum volume for the year (483 transactions), the number of transactions in dollars also increased again, showing a slight increase since November of the same year. During the month, a total of 26 transactions worth 1.8 million manat ($1.06 million) have been made.


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