In the first quarter of 2023, $442.1 million was transferred from abroad to Azerbaijan, up 84.2% from the previous year, Report informs, citing the Monetary Policy Review of the Central Bank of Azerbaijan (CBA).
Accoridng to CBA, Azerbaijan’s currency market was down by 9% in the reporting period. In the first quarter of this year, transactions worth $7.8 billion were carried out in the currency market of Azerbaijan, down 9% compared to a year ago.
Of the quarterly transactions, $6.8 billion were non-cash, and $1 billion were in cash, approximately 8% and 20% less than a year ago, respectively.
Some 80.6% of non-cash transactions and 83.1% of cash transactions were in US dollars, while 19.4% and 16.9%, respectively, were in other currencies.
During the year, the net sale of foreign currency in the country decreased by 6 times, Report informs.
