OREANDA-NEWS. September 09, 2009. In January to August 2009, turnover of XOHKS (Azerbaijan’s low-value settlements and clearing system) 2009 reached US3.97 bn for early September (exchange rate: AZN 0.8039 to the US dollar) against US6.7 bn for 2008.

The Central Bank of Azerbaijan (CBA) reports that in August 571,000 small payments were made for AZN 416 million with average size of settlement for AZN 728,550 versus 557,000 small settlements for AZN 466 million with average size of settlement for AZN 836,620 in July, 475,000 small settlements for AZN 411 million with average size of settlement for AZN 865.26 in June versus 407,000 small settlements for AZN 375 million with average size of settlement for AZN 921.38 in May, 431,000 settlements for AZN 1.526 million with average size of settlement of AZN 1,018 million in April; 423,000 settlements for AZN 386 million with average size of settlement of AZN 912,530 in March; 233,000 settlements for AZN 354 million with average size of settlement of AZN 1,519 in January 2009; 368,000 settlements for AZN 347 million with average size of settlement of AZN 942,930 in February; and 269,000 settlements for AZN 692 million with average size of settlement of AZN 2,572 in December 2008.

Thus, for Jan-August 2009 system turnover totaled 3.46 million payments in the total amount of AZN 3.19 bn and average size of a transaction for AZN 922,060.

By 1st January 2009 XOHKS turnover overtopped AZN 5 bn for the first time of system existence (since 2002) and quantity of payments in it made 1.9 million deals.

For 2008 it was carried out 1.942 million settlements for AZN 5.367 million against 1.04 million settlements for AZN 2.138 million  in 2007 and 842,000 operations for AZN 1.443 million in 2006. The records on number of operations (269,000 transactions) and turnover per month (AZN 692 million) were fixed in December 2008, while on average size of payment (AZN 3,200) in June 2008.

In August 2009, it was renewed the record on quantity of payments per month (571,000 transactions) and in July - overall volume of payments (AZN 466 million).

The system has been operating since 2002. Since then its turnover totaled “miserable” AZN 9 million on 20,000 operations. Average size of payment was only AZN 400.