Turnover at BICEX hits highest level

According to BICEX's PR office, the joint-stock investment bank Azerigasbank, joint-stock merchant banks Bank of Baku, UniBank, International Bank of Azerbaijan and Koc Bank-Azerbaijan have become leaders in the share of transactions in the overall trading volume of the currency market section.

In total, 19 banks took part in the trades for US dollar in October 2006. 38 trade sessions were conducted, and 119 deals were closed in the BEST (Bourse E-system of trades). The volume of dollar trades in the BICEX totaled AZN 158 million 919 thousand or USD 181,949 million. In comparison with the previous month, volume of trading jumped 8.47%. The overall turnover at the BICEX reached 1 billion 154 million 8 thousand manats or 1,298 billion in dollar equivalent. Foreign currency trading rose 1.9 times in comparison with January-October 2005 figure, hitting a record high in the BICEX's 13-year history.

Manat exchange rate strengthened 0,29% vs US dollar (from AZN 0.8747 to 0.8722 AZN for 1 USD) over a month. AZN average weighted rate against USD made up 0.8734 in October whereas it was 0.8874 in September. As a whole, manat market rate has strengthened 4.94 % vs USD over a year. AzerTAg