Baku, Fineko/abc.az. This year’s 67th and 68th deals were concluded today at the Organized Interbank Credit Market (OICM) in e-trading system (BEST) of the Baku Interbank Currency Exchange (BBVB). They became the second and the third deals–previous one was concluded on 23 October and at the same time, they will be the last in November, because auctions will not take place because of the religious holiday.

BBVB reports that the deals were concluded on 26 November in foreign and national currency for 178 days in the amount of AZN 500,000 under annual rate of 14% and for 360 days and to the sum of 200,000 at the rate of 18%. As a result, on 26 November, market turnover totaled AZN 700,000. On 19 September 2008, OICM turnover per day exceeded $27.8 million or AZN 22.959 million (the OICM entire history record), and on 30 May 2008 the record size of a deal ($15 million or AZN 12.37 million) was achieved.

This November’s OICM turnover has totaled AZN 3.7 million versus AZN 9.225 million in October, AZN 5.748 million in September, AZN 2.206 million in August, AZN 7.024 million in July, AZN 999,999 in June, AZN 6.668 million in May, AZN 20.733 million in April, AZN 13.557 million in March, AZN 29.29 million in February and AZN 11.394 million in January 2009, AZN 41.3 million in September 2008 (record of turnover per month for five-year history of OICM), AZN 16.6 million of the 2007 turnover record in October, and AZN 4.875 million of the 2006 turnover record in December.

OICM turnover for 2009 still makes AZN 115.06 million versus AZN 251.829 million on 150 deals in 2008, AZN 57.855 million on 64 deals in 2007 under average rate of 14.49%, AZN 34.984 million on 74 deals (average rate of borrowing in manats of 13.5156%, in freely convertible currency of 12.6781%, average period of Interbank crediting in manats for 48 days, in foreign currency (EUR and USD) for 42 days) in 2006, AZN 9.148 million on 30 deals in 2005, AZN 6.398 million on 29 deals (average rate of borrowing on manat tools of 11.16%, on dollar credits 12.35%, on credit deals in euro 12% per annum) in 2004. In 2003, OICM turnover totaled only $6,000.

In 2008, deals at the Organized Interbank Credit Market (OICM) were concluded in Azerbaijani manats, US dollars and euro, average rates on which made 14.3%, 15.4% and 14.6% respectively.

The loans at the market were extended for a wide diapason period of 1-360 days.

OICM manat turnover totaled AZN 144.2 million, dollar turnover $105.1 million, euro turnover EUR 18.5 million. Summarizing the results of 2008, manat exchange rate was AZN 0.801 to the US dollar and AZN 1.1292 to euro.

According to this rate, dollar turnover at OICM totaled AZN 84.2 million, euro turnover – AZN 20.9 million and overall turnover AZN 249.3 million.

About 15-17 banks are participating in OICM bids actively. The most popular period for a deal is 60 days. In 2007 monthly turnover made up to AZN 5 million on average and potential market volume is estimated in AZN 100 million a month.

In January to March, 2009, BBVB credit section’s turnover in manats reached AZN 59.352 million that exceeds crediting volume for the first quarter of 2008 by 17.64%.

For the reported period it was concluded 28 deals versus 24 ones in the 1st quarter 2008 at the OICM, which operates within BEST system. OICM crediting in the 1st quarter 2009 was mainly in EUR – 60.02% of the overall amount. Loans in manats made 31.17% and the rest part was in USD.

In March 2009 BEST interbank crediting totaled AZN 12.108 million that is less by 53.91% or AZN 14.165 million compared to February.

Out of the indicated amount 24.8% fall on interbank loans extended in AZN and the rest 75.2% in EUR. There were no deals concluded in USD in March.

In March,  7 interbank deals were registered on different credit tools.

Borrowings were registered by banks on a non-pledge basis for the term of from 1 day to 6 months. EUR loan average interbank rate was 15.77% growing by 0.75% if to compare to February’s relevant figure. AZN loan average interbank rate at the OICM dropped by 0.33% thereby totaling 12.67% versus 13.00% in February. Average interbank crediting term made 14 days for AZN loans and 15 days for EUR loans.

26.11.2009 17:11