ECONOMY
FOREIGN CURRENCY TRADING REACH AZN 996,238
According to BICEX’s PR office, the joint-stock investment bank Azerigasbank, joint-stock merchant banks Bank of Baku, Unibank, International Bank of Azerbaijan and Kapitalbank have become leaders in the share of transactions in the overall trading volume of the currency market section.
In total, 22 banks took part in the trades for US dollar in September 2006. 42 trade sessions were conducted, and 120 deals were closed in the BEST (Bourse E-system of trades). The volume of dollar trades in the BICEX totaled AZN 146 million 514 thousand or USD 166.988 million. In comparison with the previous month, volume of trades dipped 56.84%. Foreign currency trading rose 1.86 times in comparison with January-September 2005 figure to 996,238 million AZN.
Manat exchange rate strengthened 0,59% vs US dollar (from AZN 0.8802 to 0. 0.8750 AZN for 1 USD) over a month. AZN average weighted rate against USD made up 0.8774 in September whereas it was 0.8858 in August. As a whole, manat market rate has strengthened 4.38 % vs USD over a year.