BAKU, Azerbaijan, Nov. 20
By Zeyni Jafarov - Trend:
Transactions for the sale and purchase of cash foreign currency of Azerbaijani banks for the past nine months of 2020 made up $4.2 billion, 2.6 percent less than in the same period of last year, Trend reports referring to the review of the monetary policy of the Central Bank of Azerbaijan (CBA).
According to the review, in the reporting period, most of the transactions on foreign currency’s purchase and sale were conducted with the dollar in the amount of $3.7 billion (88.1 percent). During the third quarter of this year alone, operations worth nearly $1 billion were carried out, of which about $800 million fell on transactions with the dollar.
From January through September 2020, the non-cash foreign exchange market of Azerbaijan for the reporting period of 2020 made up $18.7 billion, showing a year-on-year decline of 4.1 percent. Of this amount, 86.7 percent of transactions were carried out in US dollars, and the remaining 13.3 percent in other currencies.
Meanwhile, according to the CBA, 63.8 percent of non-cash foreign exchange transactions were carried out in the intra-bank foreign exchange market, and 36.2 percent - in the interbank foreign exchange market.
The daily rate of the manat against the US dollar for the first nine months of 2020 formed at the level of 1.7 AZN/ USD.
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