2024-06-05 14:06:09
The demand for {dollars} in Azerbaijan has elevated sharply.
In keeping with the data of the Central Financial institution, the quantity of {dollars} offered in January-Could of this yr is twice as a lot as in comparison with the corresponding interval of final yr.
Day.Az quoting Khazar Information experiences that in January-Could of this yr, 2 billion 968 million US {dollars} had been offered to banks in 37 forex auctions. In the identical interval final yr, this indicator was just one billion 492.4 million US {dollars}.
However what prompted the sharp improve in greenback purchases?
Within the 7 auctions held in Could, the quantity of forex gross sales amounted to 558.6 million {dollars}. That is 2 instances greater than the gross sales in Could final yr. Economist Khalid Karimli stated that many worldwide occasions have been held in Azerbaijan just lately. The financing of investment-oriented bills in preparation for these occasions results in a rise within the demand for {dollars}, and it’s regular. Paying advances and spending assets to make purchases will increase financial exercise, accelerates money flows, and creates demand for {dollars}.
He additionally commented on whether or not the rise in demand for the greenback will have an effect on the alternate price.
It must be famous that the demand of the inhabitants in Azerbaijan for money US {dollars} obtained from banks has additionally elevated sharply. Throughout January-March 2024, banks offered 931.3 million US {dollars} in money to the inhabitants. This implies a rise of 491.5 million manat or 112 p.c in comparison with the yr.
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