Bank Of Baku

Azerbaijani people increases sale of euro cash

Azerbaijani people increases sale of euro cash
# 04 May 2011 10:20 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. In January-March, 2011, volume of euro cash sold by Azerbaijani population via banks made €38.370 mln, purchase stood at €213.748 mln. CBA says that in January-March of 2011, volume of sale rose 3.3 times, but purchase decreased by 14.8%.

Azerbaijan’s dynamics occurred in euro market has psychological causes. That is, euro’s exchange rate against manat has strengthened from the beginning of year. This factor is the main reason of euro cash sale’s growth.
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