ECONOMY


VOLUME OF TRADES EXCEEDED USD 450 MILLION FOR JANUARY-OCTOBER

Volume of trades in BICEX has determined the list of banks – leading operators of exchange market in October 2003.

According to the BICEX’s PR office, the list of banks-leaders in accordance with the share of closed deals in the total turnover was compiled as follows: Commercial Banks “Amrahbank” and “Tehnikabank”, BUSB, commercial joint stock bank “Republic” and commercial bank “Rabitabank”.

Altogether, 30 banks participated in USD trades in October 2003. 22 trade sessions have been carried out and 268 deals – closed. The volume of USD trades in October totaled 302 billion 968 million manat or USD 61,686 million. USD 53,429 million or 83 percent out of total volume of October trades fall to the share of deals closed in the BEST. The average weighted AZM exchange rate against USD made up 4911,45 in October while in September - 4911,04. It is worth noting that volume of RUR and EUR deals in the BEST totaled in October 562,401 million manat. For January-October 2003, the volume of trades in BICEX amounted to a bit more than 450 million manat, which 4,7-fold more than that the same period last year.

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