US dollar sale to banks based in Azerbaijan reaches a record high

Over the last 4 days CBA sold 500 mln USD to commercial banks

Baku. 18 December. REPORT.AZ/ On December 17 Central Bank of Azerbaijan Republic (CBAR) carried out currency intervention in the interbank foreign exchange market in the amount of 153 mln USD. Thus, in the first four days this week, the volume of currency sales in CBAR has reached 493 mln USD.

Report informs on December 14, 102 mln USD was sold, on December 15 - 101 mln USD, December. 16 - 137 mln USD. This week, the average daily volume of currency sales amounted to 123.25 mln USD, which is 93% more than last week.

Analysis of the average weekly indicators of monthly currency intervention of the CBAR over the past year shows that this week it reached a record high. Notably, today's sales is still not known exactly at the end of the day, and this figure will increase even more.

Note that CBAR resumed operations on the sale of foreign currency on the interbank currency market on December 8 after SOFAZ suspended the sale of foreign currency.From 8 to 11 December the Central Bank sold the currency on the interbank market as a whole 255 mln USD.Thus, in these days, the average daily volume of currency sales amounted to 63.75 mln USD.Over the past 8 days Central Bank sold 748 mln USD.As a result, the official currency reserves, which as of December 1 totaled 6.2 bln USD, fell to 5.5 bln USD.

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