Azerbaijan’s exchange currency trading on US dollar totaled $34.465 million on spot deals in March
Baku, Fineko/abc.az. The Baku Interbank Stock Exchange (BBVB) has renewed statistics of its operations.
BBVB reports that in March the 10 participating banks concluded 24 deals in 30 trading sessions in e-trading system (BEST). The total volume of trading in currency auctions for the reported month on USD/AZN totaled AZN 27.048 million or $34.465 million. Given tool Swap ($26 million or AZN 20.39 million) the overall turnover on US dollar in March was estimated at AZN 47.439 million or $60.465 million.
In March the volume of trading in the currency section increased by 47%.
The average daily turnover in exchange e-trading system on USD/AZN in March 2013 reached approximately $4.03 million, while the average amount of each transaction reached $2.519 million.
Exchange rate of national currency on tool USD/AZN_TOD for the reported month rose by 0.01% – from AZN 0.7837 up to AZN 0.7836 to the US dollar. At that, weighted average rate of U.S. dollar to manat was AZN 0.7848 to the US dollar in March 2013.
In March 2013 the total volume of trading on the Interbank Credit Market functioning within the framework of BEST amounted to the equivalent of AZN 2 million versus AZN 2 million in February and AZN 5 million in January.
The monthly average interest rate calculated on the basis of market maker banks’ requests for BakiBOR loans for up to 90 days in March 2013 amounted to 11.21% per annum in manats and 11.84% in U.S. dollars. Rate on BakiBID for 90 days was 5.65% per annum in manats and 5.22% in U.S. dollars.
For Jan-Mar 2013 BBVB turnover on US dollar reached AZN 103.08 million or $130.108 million and given swap – AZN 123.47 million or $156.108 million.
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