12:41 - 28.03.2024

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March 28, Fineko/abc.az. Since the beginning of 2024, the foreign exchange market has also maintained equilibrium. Last year, demand for the currency increased at several currency auctions organized by the Central Bank.

This is stated in CBA information on the parameters of the interest rate corridor, ABC.AZ reports.

It was noted that the reason for this is the expansion of import financing as a result of public investment and increased consumption by the private sector:

"In 2 months of 2024, non-oil investments increased by 17.1% compared with the same term of last year, a significant part of which was financed from domestic sources. This was accompanied by an increase in prepayments for non-oil imports. This confirms the growing demand for foreign currency of imported origin. In general, the foreign exchange market operates under conditions of a positive balance of payments. By the end of 2023, the balance of payments had a surplus of 11.5% of GDP on the current account. The trade surplus for the first 2 months of 2024 amounted to $2.3 bn."