Azerbaijan seek to develop domestic euro market

Trading in new instruments, EUR / USD_TOD, EUR / USD_TOM, will begin from March 5 in exchange electronic trading system (BEST) of the Baku Interbank Currency Exchange (BBVB) in order to develop the domestic market of euro, the exchange said on Thursday.

In addition, the size of the exchange commission on currency pairs, which include the euro has been changed.

Exchange commission on transactions with these financial instruments will amount to 0.01 percent of the transaction and the maximum fee amount is set at no more than 300 euros.

The system of BEST, built on the principle of universality in the provision of exchange services, is a modern platform for the integrated management of currency risks and short-term liquidity of banks. BEST allows the Azerbaijani banks not only to conduct operations with foreign currencies, but also to actively borrow and place on the interbank credit market.


/Trend/