CBA closes 10 exchange offices
The Central Bank of Azerbaijan announced that it has shut down ten exchange offices of six banks in the country.
The offices were shut down due to non-compliance with the requirements of determining the rates in the currency sale and purchase.
“A monitoring held yesterday revealed the facts of non-compliance with the CBA’s requirements in the purchase and sale of currency at ten exchange offices of six banks. The permits for these offices’ activities were annulled accordingly,” reads the CBA statement.
“The Bank will continue to maintain operative control over the compliance with the necessary requirements in the purchase and sale operations in the currency market and will continue to take appropriate action in case of violations.”
The official rate of the US dollar and the euro against the Azerbaijani manat as of February 24 is set at 1.0501 manats and 1.1906 manats respectively.
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