Azer­bai­jan banks’ in­come from cur­rency sales reached $7b

The Pak Banker - - Company& -

BAKU: The up­dated statis­tics of the Cen­tral Bank of Azer­bai­jan (CBA) shows that net sur­plus of the coun­try's banks on for­eign cur­rency pur­chase/sale trans­ac­tions to­taled AZN 3.8 bn over the 11 months of 2010 ver­sus AZN 3.399 bn a month ear­lier. The CBA in­forms that by 1st De­cem­ber 2010 sales of for­eign cur­rency by the banks amounted to 30.5% of op­er­a­tions on place­ment to and pur­chas­ing 8.4% of op­er­a­tions on with­drawal from ac­counts in the coun­try's pay­ment sys­tem over the re­ported term. For Jan-Nov 2010 the banks sold for­eign cur­rency for AZN 5.358 bn (ver­sus AZN 4.207 bn for the 2009 same term) and bought it for AZN 1.545 bn. As of 1 De­cem­ber 2010 ex­change rate was AZN 0.8003 to the US dol­lar, and banks' pro­ceeds from sales was equiv­a­lent to $6.695 bil­lion. -PB News

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