Currency exchange market's turnover drops

Nine banks have participated in the currency section at the Baku Interbank Currency Exchange (BBVB) in February 2012, the exchange said on Tuesday.

About 42 trading sessions were held and 34 deals were concluded in the e-trading system (BEST) during the reporting month. The total trading volume on USD/AZN in the currency auction totaled 37.171 million manat or 47.3 million in dollar equivalent.

The total trading volume in the currency section decreased by $35.2 million, or 57 percent, during the reporting month compared to January.

The average daily turnover in the e-trading exchange system on USD/AZN in February was $2.252 million, while each transaction on average amounted to $1.391 million.

The USD/AZN national exchange rate during the reporting month rose by 0.03 percent from 0.7855 to 0.7853 for $1.


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