Baku: In the first half of this year, Azerbaijani banks saw a 4% decrease in their currency exchange income margin, as the average daily buying rate of commercial banks for 1 US dollar differed from the official rate by 0.27%, and the selling rate by 0.13%.

According to Azeri-Press News Agency, the “Monetary Policy Review” released by the Central Bank of Azerbaijan revealed that banks bought the US dollar on average at 1.6954 manats and sold it at 1.7022 manats. This resulted in banks earning 68 kopecks from the purchase and sale of every 100 dollars, which is 4.2% less compared to the same period last year.

In the corresponding period last year, the average daily buying rate of commercial banks was 1.6950 manats per 1 US dollar, and the selling rate was 1.7021 manats.