The euro gains greater role in Azerbaijan’s economy

The euro gains greater role in Azerbaijan’s economy
# 04 December 2008 08:04 (UTC +04:00)
The central bank said the figure is a 2.15 times rise on the same period last year and a 68.2% increase on the total amount of 2007.
The domestic currency market reached a monthly peak in July.

At the same time, there has been an uptrend in the domestic currency market.

The dollar transactions during January-October reached $21 971 316 300, the euro deals made €5 356 367 800 and the pound deals stood at ₤32 655 700 and the ruble deals was RUR 28 317 002 600.
The figures prove the US dollar’s driving role in Azerbaijan’s economy and while there is a 2.45 times year-on-year increase the euro deals.
The increase was 55.3% in the dollar transactions. The rising euro transactions indicate the 15-nation currency’s increasing role in the economy.
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