The volume of trading in the currency section of the Baku Interbank Currency Exchange (BBVB) in March 2013 was $ 60.465 million and 47.439 million manat.
This is 46.4% more compared to the previous month and up 43.4% compared with March 2012.
The average volume of each transaction in e-trading system on USD / AZN reached in this March $ 2,519 million, the average daily turnover - $ 4,031 million
Just BBVB auction in March 2013 was attended by 10 banks. In the reporting month, the BEST place on 30 trading sessions and recorded 24 transactions.
Quarterly stock exchange turnover amounted to the equivalent of 122.47 million manat, which is 34.1% 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 0.7837 to 0.7836 for 1 USD. The average rate of the U.S. dollar against the manat in March 2013 was 0.7848 AZN for 1 USD.
At the end of March 2013 the total turnover in the inter-bank credit market functioning in the framework of BEST, amounted to 2 million manat equivalent.
The monthly average interest rate calculated on the basis of banks' applications market makers in BakIBOR loans for up to 90 days in March 2013 was 11.21% in manats and 11.84% in U.S. dollars. The interest rate on BakIBID up to 90 days was 5.65% per annum in local currency and 5.22% in U.S. dollars. - 15B -
Economics
-
Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
-
Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
-
Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
-
The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
Leave a review