MANAT EXCHANGE RATE STRENGTHENS 0,48% VS US DOLLAR IN MAY

01.06.2006 [22:11]
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The Baku Interbank Currency Exchange (BICEX) has identified the leading operators of foreign currency exchange market in May 2006.

According to BICEX’s PR office, the joint-stock investment bank Azerigasbank, joint-stock merchant banks Bank of Baku, Tekhnikabank, Unibank and Rabitabank have become leaders in the share of transactions in the overall trading volume of the currency market section .

In total, 21 banks took part in the trades for US dollar in May 2006. 42 trade sessions were conducted, and 67 deals were closed in the BEST (Bourse E-system of trades). The volume of dollar trades in the BICEX totaled AZN 29 million 828 thousand or USD 33.094 million. The volume of euro deals totaled AZN 45.824 AZN. In comparison with the previous month, volume of trades dipped as much as 58 million AZN or 63.67%. Foreign currency trading jumped 24.2% from a year ago.

Manat exchange rate strengthened 0,48% vs US dollar (from AZN 0.9028 to 0.8985 AZN for 1 USD) over a month. AZN average weighted rate against USD made up 0.9013 in May whereas it was 0.9061 in April. As a whole, manat market rate has strengthened 5.68% vs USD over a year.

MANAT EXCHANGE RATE STRENGTHENS 0,48% VS US DOLLAR IN MAY

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