INDICATORS AT BICEX UP BY 41.4%
The Baku Interbank Currency Exchange (BICEX) has identified 5 leading operators of foreign currency exchange market in June 2007.
According to BICEX’s PR office, the joint-stock investment bank Azerigasbank, Tekhnikabank, Unibank, International Bank of Azerbaijan and Azerturkbank bank - have become leaders in the share of transactions in the overall trading volume of the currency market section.
In total, 27 banks took part in the trades for US dollar in June 2007. 38 trade sessions were conducted, and 120 deals were closed in the BEST (Bourse E-system of trades). The volume of trades in the BICEX totaled AZN 176.273 million or USD 206.215 million. Foreign currency trading rose by 59.791 million manats or 45.1 percent in comparison with June 2006 figure. In January-June, overall indicators at the BICEX reached 564.14 million manats or 653.01 million in dollar equivalent, up by AZN 165.364 million or 41.4% on the same period last year..
Manat exchange rate strengthened 0.4% vs US dollar over a month (from 0.8563 to 0.8534 for 1 US dollar). AZN average weighted rate against USD made up 0.8548 in June whereas it was 0.8623 in May. As a whole, national currency strengthened 5.58 % vs USD over a year.
