Population of Azerbaijan increases purchase of cash dollar again

Volume of cash transactions in dollars fell by 33%

Baku. 16 May. REPORT.AZ/ In March 2016 commercial banks operating in Azerbaijan sold 46 606 mln USD in cash to population.

Report informs referring to the Central Bank of Azerbaijan (CBA), although in February the purchase of dollars for the first time was above sales, in March sales were dominated.Note that the banks sold cash dollars in the amount of 913.009 mln USD in the same period last year.

In general, in first three months of 2016, the banks sold 79.156 mln USD in cash. In March, the volume of transactions on purchase and sale of currency in dollar terms amounted to 529.495 mln USD, which is 266 968 mln USD or 33.5% less than in February.

Analytical group of Report News Agency believes that the excess of purchase over sales indicates the completion of the conversion process in manats by population and import operations growth on the background of some economic recovery in the country.

Notably, the global economic crisis began in the second half of 2014 has led to the fact that the Central Bank's foreign exchange reserves declined from a record high in July 2014 (15 193 4 mln USD ) by 11 072.8 mln USD, or 72.9% and as of May 1, 2016 amounted to 4 120.6 mln USD. 

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