TODAY.AZ / Business

Demand for foreign currency decreases as Azerbaijani manat turns firm

12 May 2006 [14:31] - TODAY.AZ
As Rufat Aslanli, Deputy Chair of management board of the National Bank, stated, technical factors hindering usage of the new bank notes were removed. Commercial operations with national currency are easier now.

There were certain technical difficulties in operations with new Azerbaijani manat (AZN). Increase in the scale of the valuation raised usage of AZN. Besides, demand for foreign currency sinks as AZN turns firm in the currency market.

According to the National Bank's researches the operations via exchange bureaus are reduced. After removing "kiosk" exchange operations such deals will be replaced by big operations carried by the banks. Format changes are predicted for exchange "kiosks" as well. The number of exchange stations fell by 50% for the latest 5-6 months and now constitutes only 300 in Azerbaijan.

According to Rufat Aslanli such stations enables to fully meet demand of citizens alongside with 43 banks and 190 bank branches, ANS reports.


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