Amount of March deals plunges 29.6% on BICEX

The auctions were attended by 21 banks and deals worth AZN 42.609mln ($49.093mln) were concluded in total, down 29.58% from the same period last year.

The decrease is attributed to the non-working days due to holiday in Azerbaijan. The total turnover reached AZN 254.118mln during the first quarter of the year, 54.135 higher than a year earlier.

Five banks- Azerigazbank (20.08%), UniBank (11.31%), Azerbaijan Industry Bank (9.06%), Turanbank (7.01%) and Amrahbank (4.82%) came ahead for the amount of deals.

In March, the exchange rate of Azeri manat against the US dollar rose 0.2% to 0.8671 AZN/USD from AZN 0.8688 AZN/USD1. The average weighted exchange rate was AZN 0.8679/USD1 in March while it was AZN 0.8697//USD1 in February. The exchange rate of the national currency against the dollar jumped 4.62% from a year earlier. APA-Economics