The purchase of cash by Azerbaijani banks has exceeded its sale over the past four months, Chairman of the Board of the Central Bank of Azerbaijan (CBA) Elman Rustamov said at a press-conference, Trend reports on July 30.
“The equilibrium is observed in the Azerbaijani foreign exchange market, which also maintains the stability of the exchange rate, which is the main factor in pricing,” Rustamov said.
"The local banks sold foreign currency worth $196 million over the past six months of this year,” chairman said. “Demand exceeded supply during 87 percent of the held auctions."
The Board of the CBA decided to keep the interest rate at 6.25 percent on July 30. The next decision on the interest rate will be made on September 17.
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