Number of repo transactions in Azerbaijan increases

By Trend

From January through November 2019, Azerbaijan’s National Depository Center (NDC) registered 588 repo (repurchase agreement) transactions worth more than 969.2 million manat ($570.1 million), Trend reports referring to NDC statistics Jan. 7.

Compared to the same period last year, the total number of repo transactions increased by 85 percent. Their share in local currency increased by 8.4 percent and amounted to 573 transactions (97.4 percent of the total quantity), due to the sharp reduction in transactions in US dollars; for the entire period, only 15 such transactions were concluded (3.2 percent), which is two times less than in the same period last year.

The total volume of registered repo transactions including local currency transactions worth 962 million manat ($565.8 million) and foreign currency transactions worth $7.1 million increased by almost 76 percent compared to the period from January through November 2018.

The share of transactions concluded in local currency increased by 73 percent and amounted to 99.2 percent of the total volume due to the decrease in the volume of registered US dollar transactions by almost four times.

($1= 1.7 manat on Jan. 7)