1st quarter 2006

Friday, 7 April 2006

Currency market

In the 1st quarter of 2006, 25 banks have participated, 14 trading sessions were carried out and 248 deals were made in the total trades of BBVB. The total volume of trades in currency section of BBVB was USD 180.5 million. The volume of bargains in EUR and Russian Roubles (RUR) in BEST, reached USD 99.2. The average USD/AZM rate was 0.913 manats for USD 1. Thus, revaluation of exchange rate of manats to USD for last year was 6.3%.

Between January – March 2006, the trade volumes by foreign currencies on BBVB, have made 164.9 million manats, that is 33.5 % less than the volume of the transactions, registered in currency section of exchange in the first quarter of 2005.


Credit market

In the 1st quarter of 2006, the BBVB volume of trades in credit section has reached USD 2.034 million, with 27 interbank credit bargains. The average rate of interbank crediting, in the organized interbank credit market, was 11.4% annual return.

Increase in the interbank credit volumes in BEST is linked with intensification of bank activities that became the OIMM market makers since December 2005. At present, so called «life time» of monetary indicators makes one day, in a biggest extent reflects the situation throughout the monetary market.