BAKU, Azerbaijan, Aug. 24
By Zeyni Jafarov - Trend:
Azerbaijani banks reduced by 42 percent operations on the purchase and sale of cash currency in the first half of 2021, Trend reports citing the monetary policy review of the Central Bank of Azerbaijan (CBA).
As reported, the volume of operations of Azerbaijani banks on the purchase and sale of cash currency amounted to $1.9 billion in the specified period.
According to the CBA monetary policy review, the share of the USD in these transactions was 84.2 percent. In the cash currency market, in May and June, the purchase by banks of the currency exceeded the sale.
“The non-cash foreign exchange market of Azerbaijan in the first half of the year amounted to $12.2 billion, which is 4.2 percent less than the same period last year. Of the total volume of transactions, 85.3 percent fell to the share of USD, 14.7 percent - to other currencies,” the CBA said.
According to the CBA, from January through June 2021, 70.7 percent of non-cash transactions fell on the intrabank foreign exchange market, 29.3 percent - on the interbank foreign exchange market.
---
Follow the author on Twitter: @jafarov_zeyni