Azerbaijan banks bought and sold 4 billion dollars of foreign currency in 9 months

In January-September of this year, the exchange rate of Azerbaijani manat against foreign currencies was shaped according to the supply-demand ratio in the foreign exchange market.

Qazet.az reports according to the "Monetary Policy Overview" section of the Central Bank of Azerbaijan (CBA).

The document also states that the improvement in the balance of payments during the reporting period supports the supply in the foreign exchange market and thus the exchange rate stability, which is the main anchor of price stability.

During the reporting period, the transaction volume in the foreign exchange market changed in the direction of growth in all segments of the market.

The amount of transactions carried out in the non-cash foreign exchange market in 9 months increased by 16.3% compared to the previous year and amounted to USD 22.3 billion. 84.5% of non-cash foreign exchange transactions were realized in dollars and 15.5% in other currencies. 29.6% of foreign exchange transactions were carried out in the interbank foreign exchange market (BVB), and 70.4% in the intrabank foreign exchange market (BDVB).

During the reporting period, the value of operations in BVB increased by 19.9% ​​compared to the same period of the previous year, amounting to $6.6 billion. 99.1% of transactions in this segment were made in dollars. The turnover of foreign exchange transactions in BVB is mainly due to transactions carried out on the "Bloomberg" platform.

The value of foreign exchange transactions in the BDVB increased by 14.8% compared to the same period of the previous year and amounted to 15.7 billion dollars. 78.3% of the transactions were dollar transactions. 93% of foreign exchange transactions in the BDVB were made with legal entities.

The value of the transactions made by banks regarding the purchase and sale of cash foreign currency increased by 46.9% compared to the previous year and amounted to 3.9 billion dollars. 87.2% of this was made up of transactions made in dollars.

Due to the high sales in the first quarter, net sales of cash FX increased by 48.1% in 9 months compared to the same period of the previous year. However, as of April, the situation has changed and banks' foreign exchange purchases and sales have passed.