As of September 1, 2013, the amount of foreign exchange reserves of the Azerbaijani Central Bank (CBA) reached $12.96 billion compared to $12.88 billion as of Aug. 1 and $11.69 billion as of early 2013.
The reserves increased by 0.61 percent last month, while in January-August 2013 - 10.81 percent. According to the bank's plans, as of 2013, foreign exchange reserves must hit $ 15 billion.
Currency market and manat rate
The Central Bank of Azerbaijan stressed that the money emission rate for eight months in 2013 reduced by 2.93 times compared to the same period of last year. They increased by 13.6 percent for 2012.
According to the CBA, as of September 1, 2013, around 103.665 million manat were in circulation daily compared to 88.031 million manat the previous year. Around 102.673 manat were withdrawn from circulation per day compared to 84.055 million manat a year earlier. In other words, the daily issue of money increased by 17.76 percent, while its withdrawal - at 22.15 percent. As a result, daily money emission in January -August amounted to 1.353 million manat compared to 3.963 million manat a year earlier.
Around 25.086.919 billion manat were paid from banks' cash desks for eight months in 2013 or 17.76 percent more than the year before (21.303.581 billion manat). Around 24.846.938 billion manat were transferred to the cash desks or by 22.15 percent more than revenues for the first eight months of last year (20.341.285 billion manat). Money emission for the reporting period amounted to 327.525 million manat compared to 958.999 million manat.
Azerbaijani banks continue increasing revenues from the foreign currency sale in 2013.
According to the Central Bank of Azerbaijan, the foreign currency turnover (exchange transactions of banks) amounted to 10.487.032 billion manat in January -August compared to 8.780.013 billion manat the previous year. This ensured an increase in the cash currency market by 19.44 percent.
The foreign currency sales volume by banks increased by 13.67 percent - from 6.579.011 billion manat to 7.748.242 billion manat, while purchases by 17.76 percent - from 2.201.002 billion manat to 2.738.790 billion manat. As a result, the banks' net positive balance on foreign cash conversion has increased up to 5.009.452 billion manat for the first eight months of 2013 compared to 4.378.009 billion manat the previous year.
In Jan.-Aug. 2013, the manat rate compared to the U.S. dollar strengthened by 3 percent or 0.38 percent. The exchange rate of the U.S. currency has been reduced from 0.7847 manat to the dollar since early 2013 to 0.7844 manat by late Aug.
It should be stressed that the high volatility of the dynamics was characterized for EUR / AZN exchange rate in Jan.-Aug. During this period, the euro exchange rate in Azerbaijan increased by 157 points or 1.53 percent (from 1.0229 manat per euro to 1.0386 manat per euro).
Foreign exchange market
The Baku Interbank Currency Exchange (BBVB) renewed the statistics data of its operations. Three banks held 17 transactions at 40 trading sessions in Bourse E-System of Trades (BEST) in August 2013. The total trading volume in the currency section in an accounting month on USD / AZN (spot) totaled 32.083 million manat or $40.9 million.
The turnover on EUR / AZN reached 50,000 manat. The average rate of the euro compared to the manat was observed at the level of 1.0430 manat.
The trading volume in the currency section decreased by 18.838 million manat or 37 percent in August compared to July.
The average daily turnover in the exchange electronic trading system on USD / AZN in August reached about $1.604 million, while the average amount of each transaction was $1.887 million.
The exchange rate of national currency on USD / AZN_TOD in the reporting month remained unchanged - 0.7835 manat per USD. The average rate of the U.S. dollar compared to manat hit 0.7844 manat per $1 in August 2013.
There was no trading on the interbank credit market functioning within BEST in August. As of July, the amount of trading on the organized interbank credit market amounted to two million manat compared to five million manat in May, five million in April, two million in March, two million in February and five million manat in January.
The average monthly interest rate calculated on the basis of the applications of banks-market makers for BakIBOR loans up to 90 days in August 2013 amounted to 9.74 percent per annum in manat and 10.23 percent per annum in U.S. dollars. The rate on BakIBID up to 90 days was 4.61 percent per annum in manat and 4.39 percent in U.S. dollars.
In January-August BBVB turnover on U.S. dollar reached 288.124 million manat or $ 366.032 million (spot), and taking into account swap - 299.121 million manat or $380.032 million.
Azerbaijani monetary market
The Central Bank's important objective is to manage the money supply at an adequate macroeconomic and financial stability level, in terms of continuous growth of foreign exchange reserves of the country and increased liquidity of the banking system.
The Azerbaijani Central Bank stressed an increase in all units of the money supply as of January-August 2013 compared to the data in the same period of 2012. This is a result of the influence of two factors: the increase in the quantity of money in circulation and the rate of their turnover.
As of January-August 2013, money supply (M2) (cash in circulation (outside banks) and remainders in the domestic currency on accounts of non-financial organizations, financial (excluding credit) organizations and physical entities) increased by 20.57 percent compared to the same period of 2012, the Azerbaijani Central Bank's statistics report said.
According to the report data, as of first eight months of 2013, the rate of M2 was 14.731.2 billion manat compared to 12.218.3 billion manat in the same period of 2012.
The amount of cash money supply (M0) increased by 17 percent and amounted to 9.516.9 billion manat compared to 8.134.6 billion manat as of the same period of 2012.
As of January-August 2013, Broad Money Supply (M3) totalled 17.442.3 billion manat or 16.26 percent more compared to the same period of 2012 (15.003 billion manat).
The transaction money (M1) increased by 18.17 percent per year and amounted to 11.715.1 billion manat compared to 9.913.6 billion manat in January-August 2012.
Parameters of monetary market, in mln manat
|
Amount as of September 1, 2013 |
|
|
Money mass in extensive understating (М3) |
17442,3 |
|
Money mass on manat (М2) |
14731,2 |
|
Cash in manat (М0) |
9516,9 |
|
Non-cash in manat |
5214,3 |
The monetary base in Azerbajan showed a steady rise in January-August 2013 and as of September 1, the expanded monetary base amounted to 10.688.8 billion manat in the country, the Central Bank of Azerbaijan (CBA) said.
According to the CBA data, the monetary base increased by 16.24 per cent, compared to 9.195.7 billion manat during eight months of 2012.
According to the bank, the monetary base amounted to 10.616.8 billion manat by September 1, 2013, compared to 9.076.4 billion manat by September 1, 2012.
The volume of money in circulation amounted to 10.105.2 billion manat during the reported period, compared to 8.617.5 billion manat for September 1, 2012.
For its part, bank reserves amounted to 516 million manat, which is 8 per cent less than in August, 2012 (560.5 million manat).
The ratio of cash weight in circulation to the monetary base amounted to 94.5 per cent for September 1, 2013, compared to 93.7 per cent for September 1, 2012.
Azerbaijan's loan market
Azerbaijani banks increased lending to the economy by 18.6 per cent in January-August 2013 and by 30.7 per cent per annum, the Azerbaijani Central Bank's (CBA) statistic report said.
According to the Azerbaijani Central Bank, the bank's delivered loans totaling 14.455.1 billion manat (including 10.261.4 billion manat in national currency (71 per cent) in national currency and 4.193.7 billion manat in freely convertible currency (29 per cent).
For comparison, the figure was equal to 11.057.8 billion manat (7.378.5 billion manat in national currency and 3.679.3 billion manat in freely convertible currency) in Jan.-August 2012, and as of early 2013 - 12.243.7 billion manat (8.422.8 billion manat in national currency and 3.820.9 billion manat in freely convertible currency.
Of the total portfolio, loans worth 764.8 million manat (5.3 per cent) were overdue compared to 731.7 million manat as of January-August 2012. Statistics of overdue loans do not include similar loans of the non-banking credit institution Aqrarkredit. Overdue loans increased by 4.5 per cent per year.
Short-term loans amounted to 3.342.4 billion manat (including overdue loans worth 355.6 million manat) compared to 2.960.8 billion manat (including overdue loans worth 396.2 million manat) as of the same period of 2012. Short-term credit in the economy increased by 12.9 per cent per year. As of early September 2013, around 29.8 per cent of short-term loans were in freely convertible currency (996.9 million manat).
As of September 1, long-term loans amounted to 11.112.7 billion manat (including 409.1 million manat overdue loans) compared to 8.097 billion manat (331 million overdue loans) as of Jan.-August 2012. Long-term loans increased by 37.24 per cent per year. As of early September 2013, around 28.77 per cent of long-term loans accounted for freely convertible currency (3.196.8 billion manat).
According to the CBA, the credit portfolio of the only state bank in the country (the International Bank of Azerbaijan) hit 5.004.5 billion manat with a specific weight of 34.6 percent, while private banks obtained the loans worth 9.058.2 billion manat with a specific weight of 62.7 percent. The remaining 2.7 percent fall to the share of non-bank credit organizations. They obtained 392.3 million manat.
Most of all loans are granted to households in Azerbaijan. According to the CBA, as of January-August 2013, households received 38.6 percent or loans worth 5.572.6 billion manat.
The construction and real estate sector (15.5 percent or 2.239.4 billion manat) ranks second, the trade and services (15.3 percent or 2.206.9 billion manat) ranks third.
It should be stressed that industrial and production sector received 9.8 percent of the total lending amount of the Azerbaijani real sector, which hits 1.413.1 billion manat in nominal terms.
Some 3.3 percent (482.5 million manat) fall to the transport and communication, 4.8 percent (695.7 million manat) - agriculture and processing, 2.2 percent (318.5 million manat) - energy, chemistry, and natural resources, 10.5 percent or 1.517.78 billion manat loans - on the other spheres.
In January-August 2013 the credits, granted to population in Azerbaijan's regions, amounted to 1.786.06 billion manat, or 12.35 percent of the total loan portfolio of banks, Central Bank of Azerbaijan (CBA) said.
According to the CBA, in Baku this figure amounted to 12.669 billion manat, where the credits in the national currency accounted for 8.905.55 billion manats. As of September 1, 2013 the average interest rate on credits in the country was 14.1 percent, and in Baku - 13.3 percent.
The crediting volume in Absheron economic region amounted to 399.48 million manat at an average rate of 18.3 percent, in Aran - 626.93 million manat at a rate of 19.4 percent, in Mountain-Shirvan - 61.2 million manat at a rate of 21.7 percent, in Ganja - Gazakh - 229.89 million manat - 20.3 percent, in Guba-Khachmaz - 66.35 million manat - 20.7 percent, in Lankaran - 184.3 million manat - 22.3 percent, in Sheki-Zagatala - 86.85 million manat - 21.6 percent, in Upper Karabakh - 34.16 million manat - 14.2 percent, in Kalbajar-Lachin - 12.96 million manat - 21.7 percent, in Nakhchivan - 83.9 million manat - 15.2 percent.
As of September 1, 2013, the Azerbaijani banks decreased the interest rate on loans in local and foreign currency compared to the same date of 2012, the statistics report of the Azerbaijani Central Bank (CBA) said.
According to the CBA, the average rate on bank lending to the Azerbaijani economy amounted to 14.26 per cent in national currency compared to 15.39 per cent as of September 1, 2012. The average rate on bank lending was 14.56 per cent in hard currency compared to 15.52 per cent in early September 2012.
As of September 1, 2013, the average rate on bank lending to legal entities amounted to 11.45 per cent in national currency compared to 13.31 per cent as of September 1, 2012. The average rate on bank loans to corporate clients was 10.89 per cent in freely convertible currency compared to 12.46 per cent in early September 2012.
As of September 1, 2013, the average rate on bank lending to individuals in national currency amounted to 18.21 per cent compared to 18.56 per cent as of September 1, 2012. The average rate on bank loans to individual customers in freely convertible currency was 21.2 per cent compared to 22.31 per cent in early September 2012.
Mortgage lending market
In January-August 2013, the Azerbaijan Mortgage Fund (AMF) under the Central Bank delivered loans amounting to 78.16 million manat, or 83.86 per cent more than the volume of financing in the same period of 2012.
Mortgage loans worth 498.35 million manat have been delivered since launching financing through the AMF (74.77 million manat - in 2012, 95.64 million manat - in 2011, 97.08 million manat - in 2010, 76.9 million manat - in 2009, 70.2 million manat - in 2007 and 5.6 million manat - in 2006).
According to the report, the total amount of loan refinancing delivered by the banks earlier hit 44.98 million manat in January-August.
The AMF has placed bonds worth 37 million manat since early 2013. Funds from placing the bonds are spent to finance conventional mortgages. The remaining 20 million manat out of 40 million manat envisaged for the social mortgage in the state budget-2013 was transferred to the AMF in July.
Around 73 per cent of the total volume of given loans (37 per cent of borrowers aged 18-29 and 36 per cent - 30-35 years old) fell to young people and families. Around 27 per cent of the loans fell to borrowers older than 36 years old.
Currently, the maximum amount of a common mortgage loan through the AMF is 50,000 manat at a rate of eight per cent with a payback period of 25 years. Terms under the social mortgage are 50,000 manat at an annual rate of four per cent with a payback period of 30 years. The initial payment under the social mortgage is 15 per cent, whilst the conventional loan is 20 per cent.
Conditions of mortgage lending are as follows. Loans must be issued in Azerbaijani manats and only to Azerbaijani citizens and the mortgage can only be for an apartment or private house. The volume of mortgage lending must not exceed 80 per cent of the market price and the monthly payment must not exceed 70 per cent of the debtor's monthly income. It is compulsory to take out an agreement on life insurance.
Preferential conditions are granted to family members of war victims, national heroes, internally displaced persons, civil servants with at least a three years' experience, PhDs and those making special contributions to sport as well as to the military with at least a three-year service term. Each family having the right to such a mortgage can only use the opportunity once.
There are 28 authorised banks belonging to the Mortgage Fund. Around 21 insurance companies and 11 appraisal organisations are participants of the mortgage market.
Azerbaijan's banking sector
As of Jan.-August 2013, the depositary base of Azerbaijani banks increased by 8.99 per cent and by 18.05 per cent per annum, the Azerbaijani Central Bank's (CBA) statistics report said.
According to the CBA, as of September 1, the total amount of bank deposits and deposits of physical and legal entities totaled 11.661.5 billion manat compared to 9.878.3 billion manat in the same period of 2012.
Around 6.016.8 billion manat fell to cash in manats, of which 2.286.7 billion manat - demand deposits, 3.730.1 billion manat - term deposits. The funds in foreign currency amounted to 5.644.7 billion manat (1.862.3 billion manat and 3.782.4 billion manat, respectively).
Compared to the same period of 2012, deposits of physical entities increased by 36.33 per cent, while the volume of legal entities' deposits slightly increased by 7.28 per cent.
As of Jan.-August 2013, the volume of physical entities' deposits in the banks amounted 6.090.4 billion manat compared to 4.462.6 billion manat in the same period of 2012.
According to the Central Bank, around 3.686.2 billion (60.52 per cent) of the population's funds were placed in the national currency - manat, while 2.404.1 billion manat - in freely convertible currency.
The Azerbaijani population's deposits in the national currency in the banks prevailed those in foreign currency in 2013. For comparison, around 2.531.3 billion manat (56.27 per cent) of the population's funds were placed in the national currency - manat, while 1.931.3 billion manat - in freely convertible currency in the first eight months of 2012.
In January-August 2013, the population's deposits attracted to Azerbaijan's banking system from regions, except Baku, amounted to 457.15 million manat or 7.5 per cent of the total volume of bank deposits.
According to the Azerbaijani Central Bank's statistics report, the volume of deposits in Baku amounted to 5.633.3 billion manat while those in the national currency amounted to 3.328.8 billion manat. The average percentage rate in the country during the reporting period was 8.1 per cent, and 8.2 per cent in Baku.
The sum of deposits in the Absheron economic region amounted to 140.6 million manat, with an average rate of 9.1 per cent, Aran - 125.8 million manat at 7.5 per cent, the Mountain-Shirvan - 12.7 million manat at 6.2 per cent, Ganja-Gazakh - 49.6 million manat at 5.1 per cent, Guba-Khachmaz - 16.2 million manat at 5.8 per cent, Lankaran - 45.9 million manat at 7.9 per cent, Sheki-Zagatala - 19.4 million manat at 5.6 per cent, the Upper Karabakh - 10.5 million manat at 4.5 per cent, Kalbajar-Lachin - 6.2 million manat at 4.9 per cent and Nakhchivan - 30.1 million manat at 2.3 per cent.
As of January-August 2013, the volume of deposits of financial institutions amounted 2.931.3 billion manat compared to 2.610.3 billion manat in the same period of 2012.
The volume of deposits of non-financial institutions totaled 2.639.8 billion manat compared to 2.805.5 billion manat in the same period of 2012.
Total deposits of legal entities totaled 5.571.1 billion manat compared to 5.415.8 billion manat in the same period of 2012.
As of September 1, 2013, Azerbaijani banks slightly reduced the rate on deposits in national and freely convertible currencies.
According to the Azerbaijani Central Bank's statistics report, the average rate on deposits in manat as of September 1, 2013 was 9.45 per cent compared to 10.31 per cent as of September 1, 2012.
On September 1, 2013, the average rate on physical entities' deposits in manat was 9.94 per cent compared to 10.64 per cent as of September 1, 2012. The average rate on individual clients deposits in foreign currency amounted to 10.43 per cent compared to 10.95 per cent as of early September 2012.
According to the report, as of early September 2013, the average rate on legal entities' deposits in manat was 5.2 per cent compared to 6.88 per cent on September 1, 2012. The average rate on corporate clients' deposits in foreign currency was 4.41 per cent compared to 5.32 per cent as of early September 2012.
Banks' financial activity
The capitalization of the Azerbaijani banking sector increased by 35.3 percent in January-August 2013 and amounted to 3.07 billion manat as of Sept. 1, the Azerbaijani Central Bank's (CBA) statistics report said.
As the CBA new requirement to the total capital of banks comes into force from January 1, 2014, envisaging its increase fivefold - up to 50 million manat, the banking sector actively replenished its capital base during this year.
According to the CBA, the number of banks with capital exceeding 10 million manat was 41 during the reporting period, while in January-August of last year the number was 39. The share of these banks in the total capital of all banks in the country stood at 99.7 per cent following the reporting period.
During the reporting period there were no banks with capital ranging from five million manat to 10 million manat, whereas two such banks were present on the country's banking market in August last year. There were two banks with a capital of 3.5 million manat to five million manat following the reporting period.
The share of these banks in the total capital of all banks in the country following the reporting period amounted to 0.3 per cent.
There are 43 banks in Azerbaijan.
The Azerbaijani Central Bank stressed exceeding the total profit of profitable banks over the total loss of unprofitable banks by 18.1 times as of January-August 2013, the Azerbaijani Central Bank's statistics report said.
According to the report, around 40 banks' profit hit 238.12 million manat, and losses of 3 banks - 13.15 million manat. This allowed the banking system to earn 224.97 million manat of net profit.
The number of profitable banks increased by 7, while the total profit of the sector increased by 29.8 percent compared to the same period of 2013. The number of unprofitable banks decreased from 7 to 3 and the total loss reduced by 7.1 times.
The number of profitable banks increased by 1, while the total profit of the sector increased by 11.4 percent compared to the previous month of 2013. The number of unprofitable banks decreased from 4 to 3 and the total loss increased by 44.7 percent.
According to the report, the maximum profit of the banking system was registered in 2009 - at the level of 269.57 million manat, earned by 39 banks. The biggest net profit amount was earned by banks in 2009 at the amount of 252.98 million manat.
Financial results of the banks' activity (after paying taxes) in million manat:
|
Period |
Number of profitable banks |
The total profit of the banking system (profitable banks) |
Number of unprofitable banks |
The total loss of the banking system (unprofitable banks) |
Total profit (+) or loss (-) obtained by banks |
|
Sept.1,2012 |
33 |
183,40 |
10 |
- 93,62 |
89,78 |
|
Sept.1,2013 |
40 |
238,12 |
3 |
- 13,15 |
224,97 |
According to the Central Bank of Azerbaijan (CBA), as of Sept. 1, 2013, the banks' assets amounted to 18.918 billion manat compared to 15.011 billion manat in the same period of last year, CBA's statistics report said.
According to the report, bank assets increased by 26.03 per cent over a year, by 1.2 per cent in August and by 14.45 per cent since early 2013.
The basis of the assets of the banking sector accounted for loans delivered to customers to the sum of 13.187 billion manat (a 32.4 per cent increase), investments (1.519 billion manat with a 23.9 per cent increase) and funds on correspondent accounts (987.7 million manat with a decline of 5.9 per cent).
Loans and deposits to the financial sector amounted to 721.2 million manat with a growth of 8.8 per cent.
The lion share in the structure of liabilities accounts for deposits standing at 8.438 billion manat as of Sept. 1, 2013, showing an increase of 22.34 per cent compared to the same period of last year. Loans and deposits from the financial sector amounted to 6.180 billion manat, increasing by 32.07 per cent.
Payment card market
The number of payment cards in Azerbaijan slightly reduced by 0.8 per cent to 5.331 million units in August compared to July.
However their number increased by 10.1 per cent compared to the same period of 2012, the Azerbaijani Central Bank's statistics report said.
According to the report, the total turnover on payment cards via ATMs and POS-terminals amounted to 845 million manat and the total number of transactions to 5.746 million units in August.
The number of transactions on debit cards equalled 4.78 million units to the sum of 702 million manat.
Around 4.02 million transactions amounting to 637 million manat of the total number of transactions on debit cards were implemented via ATMs within the country and around 530,000 transactions amounting to 45 million manat via POS-terminals.
At least 967,000 transactions worth 143 million manat were implemented on credit cards in August 2013.
As many as 263,000 transactions amounting to 60 million manat of the total number of transactions on credit cards were implemented via ATMs and around 496,000 transactions amounting to 34 million manat via POS-terminals, the report said.
As of September 1, 2013, around 2375 ATMs operated in the country, about 1341 of which are located in Baku and 1034 in other cities and regions of the country. Their total number increased by 161 units or 7.27 per cent per year.
The number of POS-terminals amounted to 35,715 units, around 31,754 of which are installed in Baku and 3,961 units in other cities and regions as of September 1, 2013.
The number of POS-terminals has increased by 799 units or by 2.19 per cent since August 2012.
Stock market
The total turnover of transactions on all instruments on the Baku Stock Exchange (BSE) in January-August 2013 totaled 4.559 billion manat, or by 39.63 percent less compared to the same period of 2012, the exchange statement said.
Such a decrease in stock market in the country is ensured by decreasing the state securities market by almost 2 times, while the corporate securities market increased by 2 times.
According to the statement, the state securities market volume hit 3.7 billion manat in January-August and the volume of corporate securities reached to 786 million manat.
Comparative table on the results of trades on corporate sector at BSE (January-August 2013):
|
Market segments |
31.08.2013 |
31.08.2012 |
Percentage ratio |
||
|
Volume of transactions. AZN |
Number of deals |
Volume of transactions. AZN |
Number of deals |
||
|
Corporate bonds- (placement) |
83 333 524.60 |
59 |
37 341 335.00 |
66 |
223.17% |
|
Corporate bonds - (secondary market) |
396 611 996.93 |
130 |
224 281 573.42 |
74 |
176.84% |
|
Stocks - (placement) |
291 808 611.69 |
261 |
131 322 181.67 |
110 |
222.21% |
|
Stocks -(secondary market) |
14 107 252.8 |
2 673 |
6 911 606.95 |
2 257 |
204.11% |
|
CS Market Total |
785 861 385.50 |
3 123 |
250 605 543.08 |
2 245 |
196.54% |
Comparative table on the results of trades on state sector at BSE (January-August 2013):
|
Market segments |
31.08.2013 |
31.08.2012 |
Percentage ratio |
||
|
Volume of transactions, AZN |
Number of deals |
Volume of transactions, AZN |
Number of deals |
||
|
GB - (AR MF) (placement) |
61 803 101.77 |
37 |
67 733 542.77 |
29 |
91.24% |
|
GB - (AR MF) (secondary market) |
12 949 227.52 |
4 |
9 334 451.92 |
7 |
138.73% |
|
Notes (AR CB) - (placement) |
219 897 013.45 |
83 |
715 179 262.24 |
173 |
30.75% |
|
Notes (AR CB) - (secondary market) |
43 955 612.02 |
4 |
12 486 939.02 |
8 |
352.01% |
|
Repo operations |
3 434 774 077.58 |
353 |
6 348 180 243.46 |
839 |
54.11% |
|
CS Market Total |
3 773 379 032.34 |
481 |
7 152 914 439.41 |
1 056 |
52.75% |
Abbreviations:
- GB - government bonds,
- GS - government securities,
- CB - corporate bonds
- CSC- corporate securities
The Azerbaijani National Depository Center concludes more contracts with joint-stock companies to maintain and keep shareholders' register. In January-August the number of new agreements reached 63 percent of their number for entire 2012.
According to the center, two agreements were concluded in January 2013, six agreements in February, three agreements in March, six agreements in April, four agreements in May, four agreements in June, five agreements in July and four agreements in August. For comparison, the largest number of agreements were signed in February 2012 (eight agreements), which corresponded to a better index in July 2011.
Around 34 agreements were concluded in January-August compared to 54 agreements in 2012 and 35 agreements in 2011.
The Azerbaijani National Depository Center stressed the decline in stock market turnover by 3.9 percent in August 2013 compared to 14 percent growth in July and 2.15 times in June. The turnover increased by 26.5 percent for the entire 2012. The phenomenal growth rates - 4.69 times were observed in 2011.
According to the center, around 371 transactions with securities with a nominal value of 185.617 million manat were concluded in the country in August 2013 compared to 481 transactions worth 193.178 million manat in July. July was the best month of the current year in terms of volume. Around 519 transactions with securities worth 169.445 million manat were concluded in June.
The turnover on 3,349 transactions amounted to 922.110 million manat in January-August 2013. The turnover on 4,816 transactions was worth 3.061.236 billion manat for 2012, while on 4,992 transactions worth 2.420.609 billion manat for 2011.
In August 2013, around 35 transactions on the share placement ensured a turnover of 78.507 million manat, while the turnover on 273 transactions in 2013 exceeds 411.540 million manat.
In August, the turnover on 317 exchange transactions amounted to 104.352 million manat, while 399.431 million manat on 2,797 transactions for eight months of the year.
The turnover on 19 off-exchange transactions hit 2.757 million manat, while turnover on off-exchange transactions amounted to 109.133 million manat on 213 transactions for January-August.
As of September 1, 2013, the exchange rate of manat hit 0.7844 manat per dollar. The nominal volume of securities turnover in 2013 is estimated at $1.175.561 billion compared to $3.899.665 billion for entire 2012. This turnover does not take into account the transactions with securities of the Ministry of Finance and the Central Bank of Azerbaijan.