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Azerbaijani banks temporarily suspend remittances

Azerbaijani banks temporarily suspend remittances

Date: 21 December 2015 12:22

Baku, Azerbaijan, Dec. 21

By Azad Hasanli – Trend:

Banks of Azerbaijan have suspended remittances in connection with the devaluation of the national currency December 21, according to the results of the monitoring conducted in banks.

Starting from December 21, 2015 the Central Bank of Azerbaijan switched to a floating exchange rate of the national currency, and in the result, the exchange rate of the US dollar and the euro against the Azerbaijani manat rose by 47.6 percent and 47.9 percent, reaching 1.5500 manats and 1.6850 manats, respectively.

It is scheduled to resume remittances in the afternoon Dec.21.

This also affected other banking transactions connected with foreign currency, including foreign currency exchange.

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