Banks and currency exchange offices are closed, "black market" exchange become active

In the morning of January 9 all exchange offices in the center of Baku were closed. In some of them  could be seen businessmen, changing currency at the black market rate. The  Central Bank did not make any statements, although yesterday it assured that commercial banks themselves will determine the course, and it's happening at the auctions. In practice, the devaluation of the manat is ongoing. To suspend the process of uncontrolled devaluation, the authorities are  taking administrative measures closing exchange offices.

Yesterday  by the end of the working day after the regulations of the Central Bank of four percent margin, some banks lowered rates of foreign currencies. Thus, Access Bank  established purchase rate USD: 1.5642, while sales of USD: 1.6267.  The rate of euro was established : buying EUR: 1.6329, sell - EUR: 1.7689. Approximately the same rates established AGBank, Yapı Kredi, Bank of Baku, Nikoil Bank, and others, although during the day the dollar was sold at banks and exchange offices  at the rate  1,85-1,87, while the euro 2-2,05 manat.

However, as only the CBA made public its instruction, all the exchangers closed.

In the morning of Saturday banks in Baku  are closed, including the subsidiaries, which usually work on Saturday in a shortened  regime.—06D-