The foreign exchange reserves, owned by the Central Bank of Azerbaijan (CBA), decreased by $271.2 million (3.7 percent) up to $7.044 billion in September compared to August.
The foreign exchange reserves, owned by the CBA, have decreased by $6.714 billion (48.8 percent) since early 2015.
The decline in the CBA foreign exchange reserves has been observed since July 2014. Earlier, this happened slowly (around $20-50 million). But their volume has sharply reduced (more than $1 billion monthly) since December. This is associated with an increase in demand for dollar supply in the country.
However, the growth of foreign exchange reserves resumed in May-June 2015. The CBA reserves increased to $42.9 million (0.51 percent) in May compared to April, up to $8.43 billion, and by $89.4 million (1.06 percent) in June. However, after slight growth, the CBA foreign exchange reserves continued reducing.
The foreign exchange reserves reduced due to the intervention carried out by the CBA on the foreign exchange market to keep the exchange rate of manat against the US dollar at a stable level.
Currency market and manat rate
The demand for foreign currency stabilized on the Azerbaijani domestic market in September. CBA sees no need for a sudden change of the manat rate versus the US dollar in 2015-2016. Of course, it is planned given that the oil prices on the world markets will not greatly change.
The foreign exchange market was under a certain pressure in August. This is connected with the psychological impact of the devaluation of national currencies of Azerbaijan's neighboring countries. A stable situation has been observed on the market since mid-September.
Currently, the CBA's foreign exchange reserves exceed $7 billion. The CBA does not expect great dollarization of the country's economy. Today the CBA's main task is to ensure the security of the foreign exchange reserves and macroeconomic stability. This guarantees a stable exchange rate of manat.
Azerbaijani monetary market
The CBA'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.
A decrease in the foreign exchange reserves of the country, as well as the CBA decision as of February 16 about holding the exchange rate policy on the basis of the mechanism of the dual currency basket that includes the dollar and the euro, significantly affect the amount of the monetary aggregates in subsequent months.
The money supply rate (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) decreased by 1.85 percent in September 2015 compared to the previous month and by 46.06 percent compared to the same period of 2014, the Azerbaijani Central Bank's report as of January-September 2015 said.
The money supply has decreased by 46.27 percent (8.067 billion manat) since early 2015.
The money supply rate (M2) amounted to 9.369 billion manat as of September 2015 compared to 9.546 billion manat as of August 2015 and 17.368 billion manat as of October 1, 2014, according to the report.
The amount of cash money supply (M0) decreased by 47.5 percent during a year and amounted to 5.457 billion manat compared to 10.390 billion manat as of late September 2014. M0 decreased by 0.83 percent in September 2015 compared to August (5.503 billion manat).
As of September 2015, Broad Money Supply (M3) totaled 17.684 billion manat or 16.32 percent less compared to the same period in 2014 (21.133 billion manat) and by 0.28 percent less as of late August 2015 (17.734 billion manat).
The transaction money (M1) decreased by 44 percent during a year and amounted to 7.189 billion manat compared to 12.835 billion manat as of September 2014 and increased by 1.4 percent compared to the previous month (7.089 billion manat).
Parameters of monetary market, in billion manat:
|
Volume, Jan.-Sept. |
|
|
Money mass in extensive understating (М3) |
17684,02 |
|
Money mass on manat (М2) |
9368,9 |
|
Cash in manat (М0) |
5456,9 |
|
Non-cash in manat |
3912 |
As of October 1, 2015, the bank reserves in Azerbaijan amounted to 1.379 billion manat, which is twofold more than in the same period of 2014 (593.2 million manat).
The expanded monetary base in Azerbaijan totaled 7.434 billion manat as of Oct. 1, 2015.
In annual terms, the monetary base in Azerbaijan decreased by 56.65 percent. For comparison, as of September 2014, this figure was 11.646 billion manat. The monetary base reduced by 4.6 percent in Azerbaijan compared to August (7.793 billion manat).
As of October 1, 2015, the monetary base in manat amounted to 7.050 billion manat versus 11.546 billion manat as of Oct. 1, 2014.
In the mentioned period, the volume of money in circulation amounted to 6.050 billion manat, while this figure was 11.042 billion manat as of Oct. 1, 2014.
The ratio of the mass of cash in circulation to the monetary base was 81.4 percent as of October 1, 2015, decreasing 13.4 percent compared to the same index as of Oct. 1, 2014.
Azerbaijan's loan market
Azerbaijani banks increased lending to the economy by 8.4 percent in January-September 2015 compared to the same period of 2014, the report said.
The bank lending volume decreased by 4.9 percent in September 2015 compared to the previous month.
According to the report, the decline in the bank lending volumes is associated with the restructuring in the International Bank of Azerbaijan.
According to the CBA, as of October 1, 2015, the total volume of loans granted by banks totaled 19.113 billion manat, including 10.683 billion manat (55.9 percent) - in national currency and 8.431 billion manat (44.1 percent ) - in freely convertible currency.
This ratio hit 73 and 27 percent in January 2015, but 60 and 40 percent accordingly in January-February, 59.17 и 40.83 percent accordingly in the first quarter.
For comparison, the banks delivered loans worth 17.632 billion manat (around 12.981 billion manat in national currency and 4.651 billion manat in freely convertible currency) as of September 2014.
Of the total portfolio, borrowings and loans worth 1.354 billion manat (7.1 percent) were overdue in January-September 2015.
The number of bad loans is growing by 1.5 percent in Azerbaijan in September compared to August.
In general, the volume of bad loans increased by 39.1 percent in January-September 2015 compared to the same period of last year and 38.7 percent - compared to early 2015.
For comparison, the figure was 973.2 million manat (5.5 percent) in January-September 2014.
The statistics of overdue loans does not include similar loans of Aqrarkredit non-banking credit institution.
The increase in delinquency was observed amid an increase in the credit portfolio of the banks.
The volume of short-term loans amounted to 4.258 billion manat (including overdue loans worth 480.5 million manat) as of September 2015 compared to 3.627 billion manat (including overdue loans worth 426.8 million manat) a year earlier. The volume of short-term loans in the economy increased by 17.4 percent in a year.
The volume of long term loans amounted to 14.855 billion manat (including 873.3 million manat worth overdue loans) as of January-September 2015, compared to 14.004 billion manat (including 546.3 million manat worth overdue loans) as of September 2014. The volume of long term loans has increased by 6.1 percent in a year.
The credit portfolio of the state banks in the country hit 6.385 billion manat with the specific weight of 33.4 percent, while private banks issued loans worth around 12.143 billion manat with a specific weight of 63.5 percent.
The remaining 3.1 percent fell to the share of non-bank credit organizations which issued 586 million manat, according to the CBA.
Azerbaijani banks decreased the consumer lending volume by 1.2 percent up to 7.59 billion manat in September 2015 compared to August 2014, the report said.
The consumer lending volume increased by 4.67 percent during the year.
The consumer lending volumes decreased after the devaluation of the manat rate [the dollar rate increased by almost 34 percent February 21].
It increased by almost 9 percent in February. The banks reduced the consumer lending volume by 1.4 percent in March, 1.2 percent in April, 1.88 percent in May, 1.97 percent in June and 1.5 percent in July.
The share of consumer loans in a total volume of the banks' loan investments decreased from 43 percent as of February up to 39.7 percent as of September.
The construction and real estate sector (14.3 percent or 2.728 billion manat) ranked second on the share in the total loan portfolio of banks.
The trade and services (12.7 percent or 2.435 billion manat) ranked third.
Around 10.3 percent of the total volume of lending to the real sector of Azerbaijan was directed to the industry and production. In nominal terms it amounts to 1.97 billion manat.
The share of transport and communication hit 5.3 percent (1.015 billion manat), agriculture and processing reached 4 percent (757.5 million manat), energy, chemistry, and natural resources - 0.9 percent (171.3 million manat).
The loans given to the population in Azerbaijan's districts totaled 3.28 billion manat as of January-September 2015, or 17.16 percent of the banks' total loan portfolio.
Almost a third (27.37 percent) of loans or 897.74 million manat, issued to the population in the regions of the country, accounted for the foreign currency.
The loans worth 15.83 billion manat were delivered in Baku. Here the loans in national currency (manat) amounted to 8.3 billion manat (53.43 percent).
For comparison, the loans amounting to 14.75 billion manat were delivered in Baku in the same period of 2014, of which 10.72 billion manat (72.7 percent) accounted for the loans in the national currency.
The average interest rate on loans throughout the country was 13.6 percent in January-September 2015, while in Baku this index stood at 12.2 percent.
The lending volume in the Absheron Economic district totaled 630.04 million manat at an average rate of 19.2 percent.
In other economic districts the lending index was as follows: Aran - 846.47 million manat at a rate of 22.9 percent, Mountainous Shirvan - 116.76 million manat at a rate of 22.5 percent, Ganja-Gazakh - 733.11 million manat at a rate of 19.1 percent, Guba-Khachmaz - 239.79 million manat at a rate of 21.6 percent, Lankaran - 281.97 million manat at a rate of 23.8 percent, Shaki-Zagatala - 220.14 million manat at a rate of 21.5 percent, the Upper Karabakh - 67.64 million manat at a rate of 19.4 percent, Kalbajar-Lachin - 6.21 million manat at a rate of 16.5 percent, Nakhchivan - 142.78 million manat at a rate of 13.9 percent.
The average interest rate on loans issued by Azerbaijani banks in national currency increased in September 2015, while in foreign currency - decreased, the report said.
The average rate on bank lending to the Azerbaijani economy in national currency amounted to 14.01 percent as of September 2015 compared to 13.72 percent in the previous month.
The average interest rate on loans hit 13.81 percent in early 2015.
The average rate on bank lending in freely convertible currency made up 12.74 percent compared to 13.01 percent in the previous month.
The average rate was 14.07 percent in early 2015.
The average rate on bank lending to legal entities in national currency amounted to 9.97 percent compared to 9.94 percent in July 2015, 9.99 percent as of early 2015.
The average rate on bank lending to corporate clients in freely convertible currency amounted to 8.92 percent compared to 9.23 percent and 9.18 percent in September accordingly.
As of September, the average rate on bank lending to physical entities in national currency amounted to 17.80 percent compared to 17.82 percent in August 2015, 18.53 percent in early 2015.
The average rate on bank loans to individual customers in freely convertible currency was 21.73 percent compared to 21.83 percent.
Mortgage lending
The Azerbaijan Mortgage Fund (AMF) under the Azerbaijani Central Bank delivered loans amounting to 77.2 million manat in January-September 2015 or 1.8 percent less than in the same period of 2014.
The loans worth 5.4 million manat were delivered through AMF in September, which is similar with September 2014, the report said.
The total amount of refinancing the loans issued by the banks earlier amounted to 75.1 million manat in September 2015.
Some 37.3 million manat of 50 million manat envisaged for this year have been allocated for social mortgage since early 2015. Some 4 million manat were transferred from the state budget to the AMF in September 2015.
The average amount issued by AMF authorized banks is 40.737 manat (this figure amounted to 40.031 manat in September 2014), the average term of loan issue - 280 months (278 months), the average interest rate is 6.71 percent (versus 6.82 percent in 2014), and the average monthly payment is 297 manat (318.8 manat).
Some 17,603 mortgage loans worth more than 712.8 million manat have been delivered up till now through the fund, including 97.1 million manat in 2014, 112.9 million manat in 2013, 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.
Currently, the maximum amount of a common mortgage loan through the AMF is 50,000 manat at a rate of 8 percent with a payback period of 25 years. Terms under the social mortgage are 50,000 manat at an annual rate of 4 percent with a payback period of 30 years. The initial payment under a social mortgage is 15 percent, whilst a conventional loan is 20 percent.
Conditions of mortgage lending are as follows: Loans must be issued in Azerbaijani manat 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 percent of the market price and the monthly payment must not exceed 70 percent of the debtor's monthly income. It is compulsory to have 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.
At present, the authorized banks of the Mortgage Fund are 30 banks (some 43 banks operate in the country).
Some 21 insurance companies [their total number is 26] and 16 appraisal organizations are the participants of the mortgage market.
Azerbaijan's banking sector
The economic cycles, seasonal factors and the attitude of investors, dictated by a variety of causes impact on the dynamics of deposits.
As of Oct. 1, 2015, the total amount of bank deposits and deposits of physical and legal entities drawn by the credit organizations of Azerbaijan totaled 17.477 billion manat.
According to the CBA report, the deposit base of banks declined by 1 percent in September, increased by 13.1 percent since early 2015, while in annual terms - increased by 20.3 percent.
For comparison, as of September 1, 2015, the total amount of deposits in Azerbaijani banks amounted to 17.658 billion manat, as of Jan. 1 - 15.453 billion manat, as of Oct. 1, 2014 - 14.531 billion manat.
The Azerbaijani bank deposits slightly decreased by 1-2 percent in April 2015.
As of September 2015, the deposits in national currency - manat amounted to 4.298 billion manat, of which 1.809 billion manat - demand deposits, 2.488 billion manat - term deposits.
According to the report, during the period, the deposits in freely convertible currency amounted to 13.179 billion (3.713 billion manat - demand deposits, 9.467 billion manat - term deposits).
Thus, as of October 1, the deposits in manat hit 24.6 percent, in foreign currency - 75.4 percent of the total deposit base of banks. For comparison, as of 2015, some 50.1 percent was formed through manat deposits, while 49.9 percent of the banks' deposit base was formed through the deposits in foreign currency.
As of 2014, the deposits in national currency amounted to 7.743 billion manat, of which 2.734 billion manat - demand deposits, 5.009 billion manat - term deposits. The deposits in foreign currency amounted to 7.710 billion manat, of which 1.799 billion manat - demand deposits, 5.911 billion manat - term deposits.
The volume of the physical entities' deposits in Azerbaijani banks amounted to 7.312 billion manat. The vast majority accounted for the foreign currency deposits (75.7 percent or 5.534 billion manat.
The volume of deposits in foreign currency increased by 2.2 times (as of October 1, 2014, this figure was 2.539 billion manat) compared to September 2014, by 1.1 percent (5.472 billion manat) compared to August 2015 and twofold (2.766 billion manat) compared to early 2015.
The population's bank deposits decreased by 0.1 percent in September compared to the previous month. They increased by 1.7 percent as of early 2015 and by 5.06 percent compared to the same period of 2014.
The growing share of deposits in foreign currency, observed since February, was caused by the devaluation of the national currency. Thus, the official exchange rate was set at 1.05 manat upon the decision of the Board of Directors of the Central Bank of Azerbaijan on February 21, 2015.
All banks operating in the country are members of the Azerbaijan Deposit Insurance Fund, but three of them currently have restrictions on receiving deposits.
As of September 1, 2015, the volume of the physical entities' deposits in Azerbaijani banks amounted to 5.104 billion manat compared to 4.086 billion manat as of September 2014. The volume of the non-financial organizations' deposits hit 5.062 billion manat compared to 3.486 billion manat in September 2014.
The total volume of the legal entities' deposits in the country's banks amounted to 10.166 billion manat or by 34.26 percent more than in September 2014 - 7.572 billion manat.
The population's deposits, attracted to Azerbaijan's banking system from the country's districts (except for Baku), totaled 537.15 million manat in January-September 2015, or 7.3 percent of the total bank deposits.
The volume of deposits in Baku was 6.77 billion manat, while some 1.51 billion manat accounted for the deposits in the national currency.
After the devaluation of the manat by almost 34 percent, which occurred on February 21, a tendency of reducing the volume of deposits in the banking system is observed in Azerbaijan. The portfolio of the bank deposits of the population living in regions of the country, reduced by 2.83 percent in September.
The volume of savings of residents of the Azerbaijani regions in foreign currency amounted to 270.13 million manat (50.3 percent of total deposits in the regions).
A gradual increase in the volume of bank deposits in freely convertible currency has been observed outside the capital since early 2015. Thus, in early 2015 the share of the population's bank deposits in freely convertible currency in the regions of Azerbaijan amounted to 24.2 percent, while 49 percent in July. During August, the share of bank deposits decreased by 4.6 percentage points, but in September increased again by 5.9 percentage points.
As of September 2015, the average interest rate throughout the country and Baku hit 8.1 percent.
Thus, the Absheron economic region is still the leader on such indices as attracting the population's deposits by the banks (159.5 million manat, average rate - 8.4 percent per annum).
During this period, the volume of deposits in the Aran economic region - 88.49 million manat at a rate of 6.3 percent, Mountainous Shirvan - 13.64 million manat at a rate of 6.8 percent, Ganja-Gazakh - 125.45 million manat at a rate 7.8 percent, Guba-Khachmaz - 36.9 million manat at a rate of 6.7 percent, Lankaran - 37.44 million manat - the rate of 7.6 percent, Sheki-Zagatala - 34.27 million manat - the rate of 6.2 percent, Upper Karabakh - 17.4 million manat - 5 percent, Kalbajar-Lachin - 2.06 million manat - 5.4 percent, Nakhchivan - 22.26 million manat - the average rate of 4.6 percent.
The yield of deposits began increasing in Azerbaijan in September.
The average rate on deposits in manat made up 8.73 percent as of Oct. 1, 2015 compared to 7.98 percent as of September 1 and 8.86 percent as of January 1.
The average rate on deposits in foreign currency amounted to 8.6 percent versus 8.33 percent as of September 1 and 9.24 percent in early 2015.
As of Oct. 1, 2015, the average interest rate on deposits of legal entities in manat made up 6.24 percent compared to 4.34 percent as of September 1 and 5.51 percent as of January 1, 2015.
The funds on the accounts denominated in freely convertible currency brought the legal entities 5.3 percent, 3.99 percent and 6 percent, respectively.
As of Oct. 1, 2015, the average interest rate on deposits of physical entities in manat made up 9.45 percent, while it was 9.49 percent as of September 1 and 9.45 percent in early 2015.
As of Oct. 1, 2015, the average interest rate on deposits of physical entities in foreign currency made up 9.29 percent, while it was 9.33 percent as of September 1 and 9.78 percent in early 2015.
The number of banking organizations operating in Azerbaijan as of early October 2015 reached 43 compared to 45 as of early July, 44 a year earlier and 43 in the first quarter of 2014.
According to the CBA, the total number of licenses issued to financial institutions for conducting the banking operations as of October 1, 2015 reached 200 versus 202 as of early July and 204 in the relevant period of 2014.
According to the CBA, there are two banks with the state equity and 41 private banks on the country's financial market. Among them there are 22 banks with foreign capital (23 in the previous quarter), 8 banks with a foreign share in the authorized capital from 50 percent to 100 percent (7 banks a year earlier), 12 banks with foreign capital less than 50 percent (13 banks at the beginning of July 2015), 2 local branches / representative offices of foreign banks.
The number of branches of banking organizations as of early October 2015 reached 758 against 763 as of early July, 760 - as of early April, 752 - as of early October 2014. The number of branches of state banks reached 41 (40 a year earlier), commercial banks - 717 (723, 720 and 712, respectively).
The number of the bank branches at the reporting date was 165 versus 163 in July, 160 - as of April and 162 as of early 2015.
The number of local offices of foreign banks reached 4 versus 5 at the end of the second quarter of 2013.
The number of Azerbaijani banks operating abroad increased from 11 to 12 in the third quarter of 2015, including 5 subsidiaries of banking organizations and 7 representative offices.
Two licenses for banking activity have been revoked since early 2015. As a result, the number of banks to be liquidated increased to 7 versus 5 in the previous quarter and 6 - the first quarter of 2014.
The licenses of Azerbaycan Kredit Bankı and EvroBank were liquidated upon the CBA decision in July 2015. According to the CBA notification, Azerbaycan Kredit Bankı did not fulfill the supervisory body's requirements on the minimum capital, obligations to creditors and ignored the written instructions to correct deficiency in the work. The decision of revoking the license of Azerbaycan Kredit Bankı entered into force on July 16, 2015. The bank has been controlled by the interim administration (interim administrator) since July 13. The basis for the revocation of EvroBank's license was the non-fulfillment of the CBA requirement on the minimum capital, as well as the provision to remove other shortcomings in the activity.
Payment card market
The total turnover on payment cards via ATMs and POS-terminals amounted to 962 billion manat in September 2015 or by 2.2 percent less than in the same period of 2014. The number of transactions with payments cards reached 7 million (a five percent growth per year), the report said.
The number of transactions on debit cards reached 5.5 million units totaling 784 billion manat during this period. Of the total number of transactions, around 4.2 million transactions amounting to 691 million manat were implemented on debit cards via ATMs within the country, and around 313,000 transactions amounting to 53 million manat via POS-terminals.
Some 1.46 million transactions worth 179 million manat were made on credit cards in September 2015.
As many as 414,000 transactions worth 86 million manat, of the total number of transactions on credit cards, were implemented via ATMs and there were 550,000 transactions worth 38 million manat via POS-terminals.
The number of payment cards in Azerbaijan decreased by 5.7 percent up to 5.6 million in September compared to the same period of 2014.
Some 4.5 million units of the total number of cards were debit cards, in particular, 2.4 million - social cards, 1.47 million - salary cards, 657,000 - other cards. The number of credit cards was 1.13 million units.
As of October 1, 2015, around 2,707 ATMs operated in the country of which 1,522 are located in Baku and 1,185 in other cities and regions of the country. Their total number increased by 164 units or 6.45 percent during a year (compared to September 2014).
The number of POS-terminals amounted to 77,170 units of which 48,478 are installed in Baku and 28,692 units in other cities and regions as of late September 2015. The number of POS-terminals increased by 18,561 units or 31.67 percent during the year.
Stock market
The total turnover of exchange transactions on all instruments on Baku Stock Exchange decreased by 15.5 percent and hit 7.542 billion manat in January-September 2015 compared to the same period of 2014.
The volume of state securities market totaled 19.78 million manat (decreased by 26.3 times), while the turnover of corporate securities market equaled 1.85 billion manat (decreased by 3.7 times) during the reporting period.
The volume of derivatives market stood at 5.68 billion manat (increased by 3.5 times).
Trade with derivatives accounted for major part (75.26 percent) of the stock market turnover.
The Baku Stock Exchange started to trade derivatives on a commodity basis on July 21, 2014.
The margin trading allows investors to buy and sell securities and financial instruments purchased from a broker under special conditions due to a temporary trading limit.
Comparative table on the results of trades on the state and corporate sectors at BSE:
|
Market segments |
Jan.-Sept. 2015 |
Jan.-Sept. 2014 |
||
|
Volume of transactions, manat |
Number of transactions |
Volume of transactions, manat |
Number of transactions |
|
|
I. State securities market |
19 777 808,9 |
14 |
520 726 973,55 |
104 |
|
State bonds of finance ministry |
19 777 808,9 |
14 |
84 837 380,33 |
40 |
|
initial placement |
0 |
0 |
62 560 236,2 |
25 |
|
secondary market |
19 777 808,9 |
14 |
22 277 144,13 |
15 |
|
Notes (Central Bank) |
0 |
0 |
435 889 593,22 |
64 |
|
initial placement |
0 |
0 |
128 077 635,7 |
41 |
|
secondary market |
0 |
0 |
307 811 957,52 |
23 |
|
II. Market of shares |
156 267 956,90 |
2 764 |
774 646 342,83 |
3 778 |
|
initial placement |
147 203 850,35 |
109 |
771 290 888,5 |
570 |
|
secondary market |
9 064 106,55 |
2 655 |
3 355 454,33 |
3 208 |
|
III. Debt market |
1 576 045 828,29 |
554 |
2 486 596 962,94 |
308 |
|
Mortgage bonds (initial placement) |
36 286 501 |
9 |
40 240 000 |
20 |
|
Mortgage bonds (secondary market) |
1 315 150 466,02 |
167 |
494 671 970,07 |
107 |
|
Corporate bonds (initial placement) |
18 148 795,95 |
59 |
1 841 948 130,64 |
57 |
|
Corporate bonds (secondary market) |
206 460 065,32 |
319 |
109 736 862,23 |
124 |
|
- including market makers |
184 520 457,2 |
231 |
93 846 553,73 |
97 |
|
IV. Repo transactions |
113 771 323,46 |
101 |
3 536 224 177,92 |
293 |
|
Repo transactions with the Central Bank |
32 217 600,76 |
30 |
1 803 653 833,93 |
137 |
|
Other repo transactions |
81 553 722,7 |
71 |
1 732 570 343,99 |
156 |
|
V. Derivatives market |
5 675 915 926,02 |
40 919 |
1 606 167 979,53 |
13 979 |
|
- With currency |
5 595 944 709,11 |
36 368 |
865 444 845,27 |
13 133 |
|
- With goods |
79 971 216,91 |
4 551 |
740 723 134,26 |
846 |
|
Total |
7 541 778 843,57 |
44 352 |
8 924 362 436,77 |
18 462 |