ECONOMY


TENDERS AT BICEX

Weighted average exchange prices made up 4916 manat for 1 US dollar in Baku Interbank Currency Exchange on August 13.

In the morning, the volume of deals closed by two banks was 220 thousand dollars. The new session opening exchange rate was 4916 manat for 1 US dollar and remained unchanged. The supply and demand totaled $220 thousand.

According the results of the voice trading, the price for American currency appeared in the banks proposals in the electronic system of trades BEST was limited by 4916 manat for 1 US dollar. On USD/AZM T+0 instrument in BEST, the volume of 2,376 million dollars was fixed, which in manat equivalent turned up 11,680 billion. The average cost of one deal was 237,600 dollars. On T+1,T+2 instruments, no deals were closed because of lack of demand. Proposals on EUR/AZM, RUR/AZM in BEST were not issued by the banks.

In the interbank credit market functioning in the framework of BEST, the National bank has applied for placing mantn credits to total amount of 1,1 billion manat at 10% interest rate yearly.

No deals on credit instrument between the banks were closed on August 21.

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