Azerbaijan’s Exchange Currency Trading Totaled USD 82.5 mn in January
OREANDA-NEWS. February 08, 2012. The Baku Interbank Stock Exchange (BBVB) has renewed statistics of its operations.
BBVB reports that in January 2012 the nine participating banks concluded 28 deals in 36 trading sessions in e-trading system (BEST). The total volume of trading in currency auctions for the reported month on USD/AZN totaled AZN 64.8 million or USD 82.497 million.
This January the volume of trading in the currency section against December 2011 decreased by 3 times, while against January 2011 it increased by 3.1%. The average daily turnover in exchange e-trading system on USD/AZN in December reached approximately USD 4.58 million, while the average amount of each transaction reached USD 2.946 million.
Exchange rate of national currency on tool USD/AZN_TOD for the reported month rose by 0.03% - from AZN 0.7857 to AZN 0.7855 to the US dollar. At that, weighted average rate of U.S. dollar to manat was AZN 0.7857 to the US dollar in January 2012 against AZN 0.7857 in December 2011.
In January 2012 total trading volume in the organized interbank credit market (OICM), functioning as part of BEST system, amounted to AZN 12.194 million in manat equivalent. The five deals were concluded at the OICM in January 2012. The volume in manats this January amounted to 72.2%, in U.S. dollars - 19.3%, and in EUR - 8.5%. The deals with a maturity of 91 days were the most popular for the reported month. At that, interest rate ranged from 7 to 9 percent per annum.
The average monthly interest rate calculated on the basis of orders of market makers banks for loans BakiBOR up to 90 days reached this January 12.84% in manats and 13.31% per annum in U.S. dollars. The rate on manat deposits BakiBID for term of up to 90 days was 5.83% per annum and 5.32% in U.S. dollars.
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