Azerbaijan's foreign exchange market shrinks by 10%

In 2023, transactions carried out in the currency market of Azerbaijan amounted to $33.3 billion, down 9.5% from a year ago, Report informs, citing the Central Bank.

Non-cash operations accounted for $29.5 billion, while cash operations made up $3.8 billion, respectively, 6.9% and 25.5% less than a year ago.

Some 79% of non-cash transactions and 83.9% of cash transactions were in US dollars, while 21% and 16.1%, respectively, were in other currencies.