Elman Rustamov: "Banks in Azerbaijan have no problems with currency"
- 11 March 2020
Volume of banking operations increased by more than 10 times. That is, today there is no problem of a lack of currency, there is a problem of untimely service, Elman Rustamov, Chairman of Azerbaijan's Central Bank (CBA) told journalists, APA-Economics reports.
Mr Rustamov emphasized that the needs of banks are fully met at auctions: "All banks have a sufficient amount of currency, as much as the population can buy. It may be that the resources of some banks do not allow the purchase of foreign currency. But banks help each other. In general, the banking sector is provided with currency. I note that banks were not able to fully realize the amount of currency that we sold them at auction yesterday.”
The CBA chairman added that an extraordinary foreign exchange auction was held today at the Central Bank. However, today, compared with the previous day, demand has more than halved:“All the needs of banks are met."