Banks increased profit from exchange rate difference in 2023

15:10 - 27.02.2024


February 27, Fineko/abc.az. In 2023, Azerbaijani banks bought the US dollar at an average of 1.6945 manats, and sold at 1.7020 manats.

ABC.AZ reports that this is stated in the Monetary Policy Review of the Central Bank of Azerbaijan.

It follows from this that banks earned 75 gapiks on the conversion of 100 US dollars. This is 41.5% more in annual terms.

In 2022, banks bought dollars at 1.6971 manats and sold at 1.7024 manats, while earning 53 gapiks from the conversion of every 100 US dollars.

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