Currency transactions in US-dollar fell 20% in Azerbaijan

Baku. 7 November. REPORT.AZ/ In January-September, total volume of Azerbaijan’s currency market in comparison with the same period in 2016 drastically decreased.

Report informs referring to the monetary policy review for nine months of the Central Bank of Azerbaijan (CBA), volume of currency transactions in dollar annually decreased by 20,4% and volume of transactions in euro fell by 7%.

In reporting period, 83% of transactions in currency market was carried out in dollar, 17% in other currencies.

“Decline in currency market volume was also observed in the segment of cash foreign currency market. In first nine months of 2016, Azerbaijan banks have sold $ 281 million, while purchase of US-dollar in nine months of this year was $ 117 mln. This is related with the stability of manat,” says review.