2006 In Review

In total the Baku Interbank Currency Exchange (BBVB) in 2005 has made US$885.6 million. On results of 2005, the BBVB has increased more than 60% as a whole.

1,492 transactions are registered in the BBVBs currency section on results of the last year for a total sum of US$815.52 million. It is 18 % less than volumes of the BBVBs currency trades in 2004. In total, in 2005, 502 sessions were carried out in the Bourse E-system of trades (BEST). Thus, the average year volume of the trades by foreign currencies has made about US$3.25 million, and the average volume of each transaction has exceeded US$546 thousand. It is necessary to note, that since July 9, 2002 – since the beginning of the trades in BEST between banks-members of the BBVBs currency section, there were 5,344 registered electronic transactions, in which the total amount has made US$2.261 billion. The average exchange rate US$/AZM on results of January – December 2005 was 4,715 AZM for 2 US$, whereas on results of 2004 it was up to a standard of 4,913 AZM.

40 interbank transactions, which total amount is on 2.5 % less than in 2004, are registered in the BBVBs credit section in the year under review. From this volume, 82% are the share of the centralized credit auctions of National Bank of Azerbaijan, conducted from last January till September in the BBVBs credit section. The remaining volume of transactions is registered in the Organized Interbank Credit market functioning within the framework of Bourse E-system of trades, where volumes of banks loans have increased by 25% in comparison with the last year. Thus, the average rate of loans has made 12.68% annual.

On the data for the January, 1 2006, the average rate on accommodation of 90-days credits (BakIBOR – Baku Interbank Offered Rate), counted on the basis of applications of 16 conducting commercial banks of Azerbaijan, has made on manats 15.54% annual, & on US$ credits – 18.92 % annual. In comparison with a parameter for January, 1 2005, index-BakIBOR accordingly on manat credits has increased by 2.4 & on US$ credits  by 2.92 points.