ECONOMY


TENDERS AT BICEX

Weighted average exchange prices made up 4910 manat for 1 US dollar in Baku Interbank Currency Exchange on October 7.

In the morning, the volume of deals closed by two banks was 450 thousand dollars. The new session opening exchange rate was 4912 manat for 1 US dollar. At the volume of supply of 560 thousand dollars and demand of 480 thousand dollars the manat exchange rate rose to 4910 for 1 US dollar.

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 4910 manat for 1 US dollar. On USD/AZM T+0 instrument in BEST, the volume of 2 million 529 thousand dollars was fixed, which in manat equivalent turned up 12,417 billion. The average cost of one deal was 281,000 dollars. On T+1,T+2 instruments, no deals were closed because of lack of demand.

In the interbank credit market functioning in the framework of BEST, the National bank has applied for placing manat credits to total amount of 1,200 billion manat and 200 thousand dollars at 10% interest rate yearly.

No deals on credit instrument between the banks were closed on October 7.

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