On January 12 was canceled 4% margin for setting exchange rates for commercial banks. It became known to Turan from banking sources, at the meeting of January 11 the head of the Central Bank with the heads of commercial banks announced a fully floating exchange rate of manat. It means giving up a 4% margin, which is calculated from the official national currency exchange rate set by the Central Bank of Azerbaijan.
After the announcement of the results of foreign exchange auction held on January 12, some banks have already crossed a 4% threshold.
According to other information from now on the currency auctions will be conducted three times a week - on Mondays, Wednesdays and Fridays.
However, the Central bank, remaining loyal to its non-transparent information policy, does not comment on these posts.
At the foreign exchange auction on January 12 the weighted average dollar exchange rate was 1.7867 AZN. -71D-
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