Buying and selling margin of US-dollar approaches to minimum

Stabilization process continues in cash foreign exchange market.

Report informs that the margin between buying and selling rates in commercial banks of Azerbaijan is about 0.02 AZN (2 kopeeks for 1 US-dollar). That is the best purchase rate for 1 US dollar is 1.71 AZN and sale - 1.73 AZN. Notably, a few weeks ago the margin was 0.05 AZN in the best case.

According to Report, the difference between the purchase and sales will become narrower (0.01 AZN) in coming weeks: "Narrowing margin" will restrict activities of black market. In addition, the dollar is likely to stabilize at current levels. An official exchange rate of the dollar after getting close to 1,70-1,75 AZN/USD with an increase in oil prices towards summer rates may again be degraded to 1.65 AZN/USD. However, at the end of the year the official exchange rate expected to reach 1,70-1,75 AZN/USD and the year end at this level".

Notably, Central Bank's monetary policy will ensure the stability of US-dollar.


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