Demand for dollars sharply increased in Azerbaijan

Net purchases of dollar and euro and net sales of Russian ruble by population increased

Baku. 14 August. REPORT.AZ/ In June of this year in operations on purchase and sale of cash foreign currency net purchases of US dollar by population of Azerbaijan amounted to 146.851 million dollars, which is 75.4% more compared to the previous month of this year.
Report was told in Central Bank of Azerbaijan Republic (CBAR), in February dollar reached a peak and exceeded 2 500 639 dollars. Minimum purchase volume was in May. In June last year, the net dollar purchases of population totaled 315,371 mln dollars.That is, demand for dollars fell by 53.4% on an annual basis.

During the reporting month in Azerbaijan net purchases of single European currency reached 77.244 million euros.

This figure rose by 37.8% compared to the previous month and decreased by 60% year on an annualized basis.

In the case of the Russian ruble reverse situation is observed where people prefer to sell rubles.As a result, net sales in June totaled 913.620 mln rubles, which is by 32.4% more than in previous month.

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