BAKU, Azerbaijan. Nov. 7
By Zeyni Jafarov - Trend:
The Central Bank of Azerbaijan (CBA) released statistics of the foreign exchange reserves and the money supply this week, Trend reports citing CBA.
According to the bank, the reserves amounted to $6.46 billion as of early November 2020, having grown on an annual basis by 5.3 percent, while the money supply in manat was 12.1 billion manat ($7.11 billion), which is 0.4 percent less compared to the end of 2019.
In addition, this week the Azerbaijani Center for Analysis of Economic Reforms and Communication (CAERC) presented the October Export Review, according to which, the Azexport portal implemented export orders worth $462.4 million from January through September 2020.
For 45 months of its activity Azexport has fulfilled orders for the supply of products from Azerbaijan in the amount of $2.04 billion to 142 countries in the world.
The total volume of exports of Azerbaijani products through the ‘Single Window’ system from January through October 2020 amounted to $148.6 million, and foreign citizens spent 354.2 million manat ($208.3 million) in Azerbaijan through bank cards in the past nine months of 2020, which is 2.7 times decrease compared to the same period of last year.
Furthermore, this week the Baku Stock Exchange (BSE) disclosed the volume of transactions within 10 months of 2020. So, the total volume of transactions on state securities on BSE amounted to 6.69 billion manat ($3.9 billion), and their number - 1,438 transactions
Operations on corporate securities at the exchange amounted to 1.75 billion manat ($1.03 billion).The capitalization of BSE on the last trading day of October 2020 increased by 10 percent compared to the beginning of the year and amounted to 2.7 billion manat ($1.6 billion).
This week, the State Oil Fund of Azerbaijan (SOFAZ) sold funds worth $560.3 million at the foreign exchange auctions in Oct. 2020. According to SOFAZ, the mentioned figure was $606.4 million in Sept. 2020, which is $46.1 million more than in the current month.
Also, the outgoing week was remembered for the fluctuation in the rate of the manat against the currencies of the main partner countries and growth in prices for gold and silver.