Compared to nine months of 2016, the currency market has significantly declined in the nine months of 2017.
According to monetary policy review of the Central Bank of Azerbaijan (CBA) the USD transactions declined 20.4%, EUR transactions – 7%. In the reporting period, 83% of transactions were carried out in USD, 17% in EUR.
Decline of currency market was also observed in the segment of cash foreign currency market: “Banks carried out sale of $281 million in the nine months of 2016 while they carried out purchase of $117 million in the same period of 2017. This is related to stability of manat”.