ECONOMY


TENDERS AT BICEX

Weighted average exchange prices made up 4913 manat for 1 US dollar in Baku Interbank Currency Exchange on October 23.

In the morning, the volume of deals closed by two banks was 190 thousand dollars. The new session opening exchange rate was 4912 manat for 1 US dollar. At the volume of offer 150 thousand dollars, the initial call was 190 thousand dollars, whereupon the session closing exchange dropped down to 4913 manat 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 4913 manat for 1 US dollar. On USD/AZM T+0 instrument in BEST, the volume of 1 million 960 thousand dollars was fixed, which in manat equivalent turned up 9,629 billion. The average cost of one deal was 245 thousand 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 bank has applied for placing manat credits to total amount of 1,150 billion manat at 10% interest rate yearly and 200 thousand dollars at 8% interest rate.

No deals on credit instrument between the banks were closed on October 23.

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