BAKU, Azerbaijan, Feb. 19
By Nazrin Israfilova – Trend:
The volume of transactions carried out in Azerbaijan's foreign exchange market rose above 7.4 percent in 2021 compared to 2020 and reached $27.8 billion, Trend reports citing the Central Bank's report on monetary policy.
According to the report, 86.4 percent of non-cash foreign exchange transactions have been conducted in US dollars, 13.6 percent - in other currencies.
Furthermore, 29.7 percent of transactions (among them operations with US dollars, euros, pounds sterling, the Russian ruble), were implemented on the interbank foreign exchange market, and 70.3 percent - on the intra-bank foreign exchange market.
During the reporting period, the volume of banking activities on the purchase and sale of cash foreign currency decreased by 21.5 percent compared to the previous year, and amounted to $4 billion. Transactions carried out in US dollars accounted for 85 percent.