BAKU, Azerbaijan, May 5
By Eldar Janashvili – Trend:
The Azerbaijani National Depositary Center registered 916 exchange purchase/sale transactions amounting to 1.4 billion manat (nearly $870 million) in 1Q2020, Trend reports referring to the center's statistical data.
The total number of exchange transactions decreased by 86 compared to the same period of 2019, while their share in the national currency increased by 0.2 percent to make up 825 transactions (90 percent of the total number). In US dollars, 91 transactions (10 percent) were made, which is a decrease of 23.5 percent compared to the same period of 2019 (119 transactions).
The total volume of registered exchange transactions, including in national currency and dollars - 1.4 billion (nearly $870 million) and 175.4 million manat (nearly $103.2 million), respectively, showed a drop of almost 6.8 percent compared to 1Q2019.
The share of the volume of transactions made in the national currency slid by 10.1 percent to make up 89.4 percent of the total volume due to a 35-percent reduction in the volume of registered transactions in dollars.
In March 2020, the volume of transactions in dollars sharply soared, showing the maximum growth from the beginning of the year. During the month, a total of 20 transactions worth 171.4 million manat ($100.8 million) were made, which is 97.7 percent of the total volume of transactions in foreign currency.
(1 USD = 1.7 AZN on May 5)
---
Follow the author on Twitter: @eldarjanashvili