Elman Rustamov: Only 28 of 35 banks attended recent auction, offered currency not bought wholly

Elman Rustamov: Only 28 of 35 banks attended recent auction, offered currency not bought wholly
# 19 January 2016 11:49 (UTC +04:00)

He noted that one of the steps taken was abolishment of currency exchange offices outside the banks: “those offices were creating certain stir. Speculators were trying to increase the currency rate. Now, you see that the situation in the market has stabilized. Our steps meet the psychological demand. Only 28 of 35 banks attended yesterday’s auction and offered currency has not been bought wholly. This proved that the market is stabilizing. However, the exchange rate is floating”.

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THE OPERATION IS BEING PERFORMED