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
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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