Central Bank restricts purchase of dollars or private banks?


January 18, Fineko/abc.az. For the first time in the last 7 years the price of oil has exceeded $87, but it has become much more difficult to buy dollars in our banks (some do not sell at all), ABC.AZ informs, citing expert Akram Hasanov.

He noted that, on the other hand, our banks buy dollars from the population at the rate of the Central Bank (1.70 manats).

Let's try to find the answer to these questions. First of all, if banks buy dollars from the population at the official exchange rate, then they cannot buy the desired amount of dollars from the Central Bank at this rate. Banks are not so stupid to buy dollars in small amounts, spending a significant amount of time and labor on each buyer. Otherwise, they would have bought several million at this rate directly from the CBA. Therefore, they cannot buy, the CBA has restricted the sale.

On the other hand, the banks themselves have also restricted the sale of dollars. This means that the amount of dollars they buy from the population also does not satisfy their demand. As a result, excitement and panic are growing. The demand for dollars is also growing. Rumors of devaluation are also growing. After all, in February and December 2015, on the eve of the devaluation, it was also impossible to find dollars," the expert emphasized.