BAKU, Azerbaijan, Sept. 12
By Zeyni Jafarov - Trend:
The Central Bank of Azerbaijan (CBA) has announced the volume of transactions carried out through the payment website of the Azerbaijani government this week, Trend reports citing the CBA’s data.
The transactions worth 994.5 million manat ($585 million) were carried out through the payment website from January through August 2020.
At the beginning of this week, the Baku Stock Exchange CJSC published the ranking on the volume of transactions of its participants - investment companies of Azerbaijan from January through August 2020.
Thus, the ranking was headed by PASHA Capital Investment Company with a share of 6.8 billion manat ($4 billion) while PSG Capital Investment Company with a share of 150.1 million manat ($88.3 million) was at the bottom of the ranking.
Another important event in the country’s financial market was the termination of cooperation on renewal of the rating of AZSIGORTA OJSC with Fitch Ratings international agency.
To optimize the costs and reduce the foreign exchange payments abroad, a decision was made to temporarily terminate the cooperation between AZSIGORTA OJSC and Fitch Ratings, the CBA said.
The failure in the financial markets as a result of the global pandemic has reduced the relevance of renewing the company's rating.
The volume of gross domestic product (GDP) in Azerbaijan’s Nakhchivan Autonomous Republic (NAR) from January through August 2020 has been announced this week.
So, it increased by 0.7 percent and amounted to 1.8 billion manat ($1.06 billion) compared to the same period of last year. Industry is in the first place in the structure of the GDP of the Nakhchivan Autonomous Republic.
Moreover, the export indicators of non-oil products from January through July 2020 have been announced this week. The figure reached $1.03 billion, Trend reported referring to the State Statistics Committee.
The top three importers of non-oil products included Italy, which accounted for 32.1 percent, Turkey with a share of 18.7 percent and Russia with a share of 4.7 percent.
Moreover, the outgoing week was marked by a drop in oil prices and multidirectional changes in the prices for precious metals, as well as the strengthening of the manat in relation to the currencies of the main partner countries.
(1 USD = 1.7 AZN on Sept. 12)