Azerbaijani banks suspend purchase of dollars

Cavid Əzimov
Post's author

Baku. 8 September. REPORT.AZ/ Some commercial banks operating in Azerbaijan have suspended purchase of US dollars in cash.

Report informs, because of abundance of dollars banks have given a break to purchase of foreign currency.

Sale of dollar is carried out at 1,6900-1,7060 AZN/USD rate.

Notably, price of the dollar fell to 1.63 AZN in black market". The dollar exchange rate expected to decline to the level of 1.60 AZN/USD during holidays.

Notably, today,the State Oil Fund of Azerbaijan (SOFAZ) and Central Bank of Azerbaijan (CBA) put up for sale 300 million USD and the entire amount was sold.

Taking into account the current exchange rate of CBA, commercial banks can purchase dollar at a minimum rate of 1.5747 AZN / USD with a margin of +/- 4%.

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