Number of commercial banks of Azerbaijan sell dollar at 8% higher than official exchange rate

Baku. 24 August. REPORT.AZ/ A number of commercial banks of Azerbaijan increased the fee for conversion on manat cards.

Report, Rabitabank increased the size of the commission from 2 to 5%, Silkway Bank and Expressbank - from 2 to 4%, Amrahbank - from 0.5 to 5%.In Azer-Turk Bank must pay a fee of 4%, to make cashless payments - 0.5-1 %.

As a result, the owners of manat cards when cashing currency operations or calculations in the currency there are additional costs in the amount of 4-5%.For example, taking into account today's official exchange rate of the Central Bank of Azerbaijan Republic (CBA) at the level of 1,6245 AZN / USD, banks sell the customer who wants to cash currency or make cashless payments, 1 USD at a maximum price 1.6245 + 4% = 1,6895 AZN / USD and 1.6895 + 4% = 1,7571 AZN / USD.This is 8.2% higher than the official rate of the Central Bank.These costs apply to persons making payments on magnetic cards in foreign countries.