Acquisitions of Euro in June Fell by a Third in the Background of a Significant Price Reduction in Its Value

Turnover of non-cash foreign exchange transactions in June 2012 amounted to the equivalent of 3,208 million ($ 4.1 billion), an increase of 18.6% on the month. In just six months of this year, foreign exchange turnover amounted to 15.2 billion manat. Compared to the same period last year, it increased 37%.

In this June, the U.S. dollar has retained a dominant position in the market. The share of trade with it was 33.5%. Share of the operations with the Russian ruble rose to 31.3%, the share of the euro had 5.7% of the market.

The volume of cash transactions in U.S. dollars in June was $ 1,075 million. This is $ 116 million or 9.7% less than in May. Compared to the same period in 2011, in January-June this year, the total turnover of cash exchange operations with the U.S. currency rose by $ 2,431 million, or 72.2%, to $ 5,796 million.

The volume of cash transactions euros for six months in 2012 amounted to 976 million (units of the currency), which is 60 percent more than last year. The volume of purchases of the currency population rose in June by a third.

The total turnover of cash exchange operations in January-June this year, with the Russian ruble and the British pound sterling was equal to 3,729 million, respectively, and 12 million.

The average exchange rate of cash dollar to manat fell in June to 0.7861 manat per 1 USD, and for the past 12 months decreased by 21 points. The average exchange rate of the euro against the manat fell in the reported period by 177 basis points to 0.9857 AZN for 1 euro. Two years ago, the euro rate to manat was at its lowest level since 2005 - 0.9821 AZN for 1 euro. - 15B -