The volume of trading in the currency section of the Baku Interbank Currency Exchange (BBVB) in June 2012 was $ 47.224 million or AZN 37.037 mln.
This is a 20.9% decrease compared to the previous month and by 53.5% - compared with June 2012.
The average volume of each transaction in e-trading system on USD / AZN reached in this May $ 1.764 million, the average daily turnover - $ 2.058 million.
Just BBVB auction in June 2013 was attended by 11 banks. In the reporting month, the BEST system had 36 trading sessions and registered 21 deals.
Exchange currency turnover for the half year amounted to the equivalent of 235.45 million manat, which is 38.8% less than in the comparable period last year.
The exchange rate of the national currency in the reporting month has increased by 0.01% - from 0.7836 to 0.7835 for 1 USD. The average rate of the U.S. dollar against the manat in June 0,7843 AZN for 1 USD., whereas in May it was equal to 0,7844 AZN.
The monthly average interest rate calculated on the basis of banks' applications market makers in BakIBOR loans for up to 90 days in June 2013 was 10.23% in manats and 11.10% in U.S. dollars. The interest rate on BakIBID up to 90 days was 4.82% in manats and 4.50% in U.S. dollars. -15D -
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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