Operations at interbank foreign exchange market grew by 20% for Jan-Sept

28.11.2022,12:39


November 28, Fineko/abc.az. The review of CBA’s monetary policy for Jan-Sept 2022 has been presented.

ABC.AZ reports that the volume of transactions at the interbank foreign exchange market for the reporting period increased by 19.9% (against Jan-Sept 2021) up to $6.6 bn. 99.1% of transactions were made in US dollars. The turnover on foreign exchange transactions in the market was formed mainly due to operations conducted on the Bloomberg platform.

The volume of foreign exchange transactions in the intrabank foreign exchange market amounted to $15.7 bn (14.8% more versus Jan-Sept 2021). Transactions in US dollars made up 78.3% of transactions. 93% of foreign exchange transactions in the intrabank foreign exchange market are foreign exchange transactions with legal entities.

The volume of transactions for the purchase and sale of foreign currency by banks increased by 46.9% (versus Jan-Sept 2021) up to $3.9 bn. Of them, 87.2% were transactions in US dollars.

Due to high sales in the 1st quarter for 9 months, net sales of foreign currency in cash increased by 48.1% (against Jan-Sept 2021).

However, since April, the situation has changed, and the purchase of foreign currency by banks exceeded the sale.