Trading volume in the currency section of the Baku Interbank Currency Exchange (BBVB) in October 2012 was $ 91.075 million and 71.488 million manat.
This is a 125% increase compared to the previous month and up 19.4% compared with October 2011.
The average volume of each transaction in e-trading system on USD / AZN reached this August $ 2.397 million, and the average daily turnover was $ 4.337 million.
The BBVB auction in October 2012 was attended by 13 banks. In the reported month, BEST carried out 42 trading sessions and recorded 38 transactions.
Stock exchange turnover for the ten months of this year amounted to the equivalent of 612.738 million manat, which is 15.9% less than in January-October last year.
The exchange rate of the national currency in the reported period rose by 0.13% - from 0.7846 to 0.7836 for 1 USD. The average rate of the U.S. dollar against the manat in October was 0.7849 AZN for 1 USD, against 0.7853 AZN in September. - 15B -
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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