MANAT EXCHANGE RATE STRENGTHENS 4.16% OVER YEAR

01.08.2007 [21:45]
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The Baku Interbank Currency Exchange (BICEX) has identified 5 leading operators of foreign currency exchange market in July 2007.

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

In total, 26 banks took part in the trades for US dollar in July 2007. 44 trade sessions were conducted, and 176 deals were closed in the BEST (Bourse E-system of trades). The volume of dollar trades in the BICEX totaled AZN 267.925 million or USD 313.804 million. The turnover in the foreign currency section surged by 91.653 million mantas or 52% in comparison with July 2007 figure. In January-July, the foreign currency trading figure made up 832.064 million mantas or 966.842 million in dollar equivalent, up by 321.848 million mantas or 63.1% on the same period last year.

Manat exchange rate strengthened 0.15% vs US dollar over a month (from 0.8536 to 0.8523 for USD 1). AZN average weighted rate against USD made up 0.8538 in July whereas it was 0.8548 in June. As a whole, national currency strengthened 4.16 % vs USD over a year.

MANAT EXCHANGE RATE STRENGTHENS 4.16% OVER YEAR

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