BAKU, Azerbaijan, August 22. Azerbaijani banks increased operations for the purchase and sale of cash currency in the first half of 2022 compared to the same period last year, Trend reports via the review of the monetary policy of the Central Bank of Azerbaijan (CBA).
According to the review, this figure amounted to $2.6 billion (up by 38.2 percent on annual basis), and the share of the US dollar in the above transactions - was 87.6 percent.
Non-cash foreign exchange market of Azerbaijan equaled $14.6 billion in the first half of this year, which is 20 percent higher than the same period last year, and 84.9 percent of the total volume of transactions accounted for US dollars and 15.1 percent - for other currencies.
According to the CBA, 71.6 percent of the non-cash transactions accounted for the intra-bank foreign exchange market from January through June, while 28.4 percent for the inter-bank foreign exchange market.
Meanwhile, net sales of foreign currency in cash rose by 40.8 percent, with the easing of pandemic-related restrictions, compared to the first half of last year due to an increase in overall economic activity.