BAKU, Azerbaijan, October 5. The open long currency position of Azerbaijan's banking system amounted to $170 million at the end of the first half of 2023, Trend reports.
According to the report on financial stability published by the Central Bank, the open long currency position of the banking system of Azerbaijan amounted to $143 million by the end of 2022.
It is noted that the open currency position of the banking system of Azerbaijan is equivalent to 5.3 percent of the total capital of banks (4.7 percent at the end of 2022).
According to the report, the total capital of banks in Azerbaijan increased by 6.5 percent or 336 million manat ($197.6 million) in the first half of 2023 and reached 5.5 billion manat ($3.2 billion).
Currently, there is a developed two-tier banking system based on market principles in Azerbaijan (the Central Bank of Azerbaijan in the first tier, commercial banks, and other non-bank credit organizations in the second tier).
