BICEX IDENTIFIES FIVE LEADING OPERATORS
The Baku Interbank Currency Exchange (BICEX) has identified 5 leading operators of foreign currency exchange market in June 2008.
According to BICEX’s PR office, Bank Standard, Kapital Bank, Unibank, International Bank of Azerbaijan and Tekhnikabank bank - Azerbaijan have become leaders in the share of transactions in the overall trading volume of the currency market section.
In total, 30 banks took part in the trades for US dollar in April 2007. 38 trade sessions were conducted, and 159 deals were closed in the BEST (Bourse E-system of trades). The volume of dollar trades in the BICEX totaled AZN 358,131,000 or USD 439,087,000
Foreign currency trading rose 2.5 times from 9,341,000 manats to 23,110,000, up 2.32 times in comparison with May 2008 figure.
Average volume of each deal amounted to 2,762,000 dollars against 1,507,000 in May.
The number of deals in the electronic system rose by 30%. It indicates to rise of banks` activity
Manat exchange rate strengthened 1.06% vs US dollar over a month (from 0.8193 to .8106 for USD 1). AZN average weighted rate against USD made up 0.8156 in June whereas it was 0.8253 in May. As a whole, national currency strengthened 3.51% vs USD since the beginning of the year.
