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Volume of repo transactions in Azerbaijan up five-fold

Finance Materials 3 September 2020 18:19
Volume of repo transactions in Azerbaijan up five-fold

BAKU, Azerbaijan, Sept. 3

By Fidan Babayeva - Trend:

The volume of repo transactions with corporate securities in Azerbaijan increased more than 5 times in the first half of 2020 compared to the same period of 2019, Chairman of the Board of the Association of Stock Market Participants (AFBIA) Jeyhun Ibrahimov told Trend.

From the beginning of the year to date, the total value of repo transactions soared by 73 percent compared to the same period of last year and amounted to 759 million manats ($446.4 million).

“The activity on the corporate securities market in the first six months of this year significantly increased in comparison with the same period of last year. The growth in the stock reinvestment market occurred in the first two months of this year due to transactions carried out before the introduction of a special quarantine regime,” said the chairman.

On the other hand, several negative consequences of the COVID-19 pandemic have been observed on capital markets this year, Ibrahimov said.

“In this regard, we may find it difficult to make preliminary forecasts. Nevertheless, some decisions of the Central Bank of Azerbaijan (CBA) to increase activity in the capital market continue to simplify operations, which makes us confident that the capital market will develop even faster in the coming years,” he added.

The Association of Stock Market Participants (AFBIA) was established on May 2, 2007.

(1 USD = 1.7 manat on Sept. 3)

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