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Volume of cash purchase-sale by Azerbaijani banks for 1Q2021 decreases

Finance Materials 24 May 2021 16:16 (UTC +04:00)
Volume of cash purchase-sale by Azerbaijani banks for 1Q2021 decreases

BAKU, Azerbaijan, May 24

By Zeyni Jafarov - Trend:

The number of cash purchase and sale transactions by Azerbaijani banks in the first quarter of 2021 decreased by 2 times, Trend reports referring to the review of the monetary policy of the Central Bank of Azerbaijan (CBA).

According to the review, during the mentioned period, the volume of transactions of Azerbaijani banks on the purchase and sale of cash currency amounted to $1.1 billion.

Besides, the share of the US dollar in foreign exchange purchase and sale transactions was 89 percent.

The non-cash foreign exchange market of Azerbaijan in the first quarter amounted to $5.9 billion, which is 24.5 percent less than in the same period of last year. Of the total volume of transactions, 85.6 percent fell to the share of US dollars, and 14.4 percent - to other currencies.

Some 69.4 percent of non-cash transactions conducted from January through March 2021 fell on the intra-bank foreign exchange market, and 30.6 percent - on the interbank foreign exchange market, added the CBA.

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