Azerbaijan's foreign exchange market shrinks by 12%

In the first half of this year, transactions carried out in the currency market of Azerbaijan amounted to $15.8 billion, down 11.6% from a year ago, Report informs, citing the Central Bank.

Non-cash operations accounted for $13.4 billion, while cash operations made up $1.8 billion, respectively, 8.2% and 30.8% less than a year ago.

Some 79.5% of non-cash transactions and 84% of cash transactions were in US dollars, while 20.5% and 16%, respectively, were in other currencies.

In recent years, the purchase of foreign currency by the banks exceeded the sale for the first time in 6 months.