Bank operations on currency sale in Azerbaijan decreased by AZN 418 million


February 21, Fineko/abc.az. By the end of 2017 the manat rate to the dollar has risen by 4% and since the 2nd half of 2017 the manat was under additional pressure.

According to the Central Bank’s monetary policy overview, last year the currency market volume reduced as transactions in US dollars decreased by 5.8% and in euros by 5.4%.

"During the reporting period 83% of currency transactions were carried out in US dollars and 17% in other foreign currencies. 24% of transactions were conducted in the interbank currency market and 76% in banks," the overview says.

According to the overview, banks sold currencies for $445.4 million in 2016 and $26.5 million in 2017, and this decrease is linked with the stability of the manat.