MANAT REVALUATION MAKES UP 6,72%
According to BICEX’s PR office, International Bank of Azerbaijan, “Bank of Baku”, commercial joint-stock bank “Respublika” , Bank “Standard” and merchant bank “UNIBANK” have become leaders of the currency market depending on portion of closed deals in the total volume of trades.
In total, 24 banks took part in the trades for US dollar in January 2006. In the last month, 34 trade sessions were conducted, and 80 deals were closed in the BEST (Bourse E-system of trades). The volume of dollar trades in the BICEX totaled AZN 65 million 290 thousand or USD 71,312 million. Rouble and euro deals were not registed. In comparison with the previous month, volume of trades dipped as much as 34,61 million or 32,7 percent. January figures were down by 9.3 percent or $7.3 million as compared with the volume of trades in January, 2005. It is coupled with the fall in the number of working days in the first month of this year.
It is worth noting that manat exchange rate strengthened 0,41% vs US dollar (from AZN 09184 to 0,9146). AZN average weighted rate against USD made up 0,9156 in January whereas it was 0,9183 in December last year. Thus, manat revaluation vs USD has made up 6,72 percent for the passed year.
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