Elman Rustamov: Banks have increased purchases of US dollars


July 30, Fineko/abc.az. Central Bank’s chairman Elman Rustamov has held a press conference on interest rate parameters.

ABC.AZ reports that Rustamov noted that for the past 4 months running the Azerbaijani banks’ demand for cash currency exceeds the supply.

"There is an increase in supply and decrease in demand in the foreign exchange market. This, in turn, ensures the stability of the exchange rate. Over the past period the banks have sold a total of $196 million. And since April the demand for cash currency by banks exceeds the supply. In 87% of auctions held over the past period, the supply exceeded the demand," Rustamov said.