Baku Interbank Currency Exchange will from March 5 begin trading the EUR/AZN SWAP with the term of a month forward. This move by BICEX takes advantage of the increase of interest of banks in the Euro.
A currency swap is a pair of oncoming transactions of purchase-sale of foreign currency in an identical volume with the different delivery dates of currency.
The size of commission of BBVB under transactions currency swap is ratified in size of 0,005%, that is in 6 times less than operating size of the commissions on all swap tools trading in BEST. The commission is raised on transactions on morning and afternoon sessions in accordance with operating order. Thus the commission is kept only once from both parties in day of the conclusion of transaction. It considerably reduces costs of banks.