BAKU, Azerbaijan, February 27. Azerbaijani banks in 2023 reduced foreign currency cash purchase and sale operations by 25.49 percent compared to 2022, Trend reports.
According to data in the Central Bank of Azerbaijan's (CBA) monetary policy review, the volume of Azerbaijani banks' operations on purchasing and selling foreign currency cash amounted to $3.8 billion in the period mentioned.
Based on the survey data, the share of the US dollar in these operations amounted to 83.9 percent.
Azerbaijan's cashless foreign exchange market amounted to $29.5 billion from January through December. Out of the total volume of operations, 79 percent came to the share of the U.S. dollar, and 21 percent - to other currencies.
The regulator data shows that from January through December 2023, 79 percent of non-cash operations fell on the intrabank foreign exchange market, and 21 percent - on the interbank foreign exchange market.
Meanwhile, Azerbaijani banks in 2022 increased operations on purchase and sale of cash foreign currency by 27 percent compared to 2021 (up to $5.1 billion).
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