‘Approved’
Central Bank
of the Republic of Azerbaijan
Resolution № 16/1-2
11 July 2019

REGULATIONS on compilation and submission of statistical reporting on cash foreign exchange operations

1. General provisions

1.1. These Regulations have been developed in accordance with Article 63 of the Law of the Republic of Azerbaijan on the Central Bank of the Republic of Azerbaijan, Article 46.1 of the Law of the Republic of Azerbaijan on Banks, part 2(d) of Article 13 of the Law of the Republic of Azerbaijan on Currency Regulation and govern compilation and submission of statistical reporting of banks, local branches of foreign banks and the national operator of postal communication (hereinafter – statistic units) on cash foreign exchange operations.
1.2. The goal of reporting is to allow the Central Bank of the Republic of Azerbaijan (hereinafter – Central Bank) receive statistical data on exchange of cash foreign currency (buy/sell), cash turnover of cash foreign currency (debit, credit and balance) and bringing into/taking out of the Republic of Azerbaijan of cash foreign currency by statistic units to be used in formation of the monetary and foreign exchange policy.

2. Content and compilation of reports

2.1. Statistical reporting of cash foreign exchange operations is compiled in 4 (four) statistical forms:
2.1.1. statistics of cash foreign exchange operations (buying-selling) (Pro-Pro-forma CFES-1) – Annex №1;
2.1.2. statistics of cash foreign exchange operations (buying-selling) across regions (Pro-Pro-forma CFES-1a) - Annex №2;
2.1.3. statistics of cash foreign currency turnover (Pro-Pro-forma CFES-2) – Annex №3;
2.1.4. statistics of bringing into/taking out of the Republic of Azerbaijan of cash foreign currency (Pro-forma CFES-3) – Annex №4.
2.2. Statistics of cash foreign exchange operations (buying-selling) (Pro-forma CFES-1) includes:
2.2.1. the date of operation, currency, buy/sell amount of foreign currency/manat, buy/sell rate of foreign currency/manat, and the number of operations by ‘statistic unit’s foreign currency buy operations’ and ‘statistic unit’s foreign currency sell operations’;
2.2.2. cash foreign exchange operation (on cross exchange rate) as 2 (two) operations – national currency buying and national currency selling – conducted by a statistic unit on exchange of one foreign currency for the other. Cash foreign currency bought by a statistic unit (on the basis of cash sell rate of the national currency against the foreign currency bought) is recorded as foreign currency buy operation, while currency sold (on the basis of cash buy rate of the national currency against the foreign currency sold) is recorded as foreign currency sell operation;
2.2.3. the amount of foreign and national currency bought/sold per exchanged foreign currency on a daily basis, total number of exchange operations, weighted average exchange rate of exchange operations per currency as of the date;
2.2.4. weighted average exchange rate is calculated with the below formula:

n – (1, 2, 3, ...............n) number of operations;
kn – exchange rate of n number of operations;
qn – foreign currency size of n number operation;

2.2.5. statistic unit’s cash foreign exchange operations via its automated currency exchange terminals located throughout the Republic of Azerbaijan;
2.2.6. amounts by foreign currency and manat are indicated in its currency unit;
2.2.7. statistic unit’s cash foreign exchange operations across its all operational units (head office, branches and departments);
2.2.8. cash foreign exchange operations on the currency of any state or groups of states irrespective amounts;
2.2.9. data on non-cash foreign exchange operations are not included;
2.2.10. data on statistic unit’s foreign exchange operations with other statistic units are not included.
2.3. Statistics of cash foreign exchange operations (buy/sell) across regions (Proforma CFES-1a) includes:
2.3.1. size of foreign currency bought over the reported period, weighted average buy rate of operations, amount in manat of foreign currency bought on the basis of weighted average buy rate, the number of buy operations, the size of foreign currency sold, weighted average sell rate of operations amount in manat of foreign currency sold on the basis of weighted average sell rate, and the number of sell operations on the ‘currency’ and ‘region’ classifications;
2.3.2. amount of foreign and national currency bought/sold per region/per currency exchanged, total number of foreign exchange operations, weighted average buy/sell rate per currency;
2.3.3. the requirements of sub items 2.2.2 and 2.2.4-2.2.10 herein are followed;
2.3.4. Total indicators on regions in “Pro-forma CFES-1a” are developed in line with total indicators on the same currency in “Pro-forma CFES-1”.
2.4. Statistics of cash foreign currency turnover (Pro-forma CFES-2) includes:
2.4.1. statistic unit’s opening and closing cash foreign exchange balances, cash debit and credit turnover of cash foreign exchange over the period;
2.4.2. total inflow of cash foreign currency on the basis of the following indicators:
2.4.2.1. cash foreign currency brought by the statistic unit to Republic of Azerbaijan;
2.4.2.2. cash foreign currency bought from statistic units;
2.4.2.3. foreign currency bought via cash foreign exchange operations;
2.4.2.4. inflow to place in accounts of individuals (including unincorporated individual entrepreneurs);
2.4.2.4.1. inflow to place in accounts of non-resident individuals;
2.4.2.4.2. inflow to place in accounts of unincorporated individual entrepreneurs;
2.4.2.5. inflow of funds from individuals for transfers (w/o opening an account);
2.4.2.6. inflow to place in accounts of legal entities (excluding inflow to be placed in statistic units’ accounts);
2.4.2.7. inflow of cash foreign currency as a result of financial transactions with another statistic unit;
2.4.2.8. inflow from the statistic unit’s correspondent account with the Central Bank;
2.4.2.9. other inflow.
2.4.3. total outflow of cash foreign currency on the basis of the following indicators:
2.4.3.1. cash foreign currency to be taken from the Republic of Azerbaijan by the statistic unit;
2.4.3.2. cash foreign currency to be sold to statistic units;
2.4.3.3. cash foreign currency sold via cash foreign exchange operations;
2.4.3.4. funds withdrawn from accounts of individuals (including unincorporated individual entrepreneurs), including;
2.4.3.4.1. funds withdrawn from accounts of non-resident individuals;
2.4.3.4.2. funds from accounts of unincorporated individual entrepreneurs;
2.4.3.5. outflow to give funds from transfers to individuals (w/o opening accounts);
2.4.3.6. outflow to withdraw from accounts of legal entities (excluding outflow from accounts of statistic units);
2.4.3.7. cash foreign currency outflow as a result of financial transactions with another statistic unit;
2.4.3.8. outflow to place in statistic unit’s correspondent account with the Central Bank;
2.4.3.9. other outflow.
2.4.4. the ‘opening cash foreign currency balance’ row indicates total of statistic unit’s cash foreign currency balance as of the beginning of the reported period, cash foreign currency in transit, cash foreign currency balance in exchange points, cash foreign currency balance in ATMs, cash foreign currency balance in payment terminals;
2.4.5. the ‘closing balance of cash foreign currency’ row indicates total of statistic unit’s cash foreign currency balance as of the end of the reported period, cash foreign currency in transit, cash foreign currency balance in exchange points, cash foreign currency balance in ATMs, cash foreign currency balance in payment terminals;
2.4.6. data on cash foreign currency operations among statistic unit’s operational units are not included;
2.4.7. closing balance is estimated by subtracting total cash outflow from total of opening balance and total cash inflow over the period (Opening cash balance + Inflow over the period – Outflow over the period = Closing balance of cash);
2.4.8. ‘inflow of cash foreign currency brought by the statistic unit to the Republic of Azerbaijan/outflow of cash foreign currency to be taken out of the Republic of Azerbaijan by the statistic unit’ indicators are compiled in line with total amount in “Pro-forma CFES-3” (considering exchange rate differences);
2.4.9. ‘inflow/outflow of cash foreign currency bought/sold from/to statistic units’ indicators provides for cash foreign currency inflow/outflow from cash foreign currency trading among/between statistic units;
2.4.10. ‘inflow/outflow of foreign currency bought/sold via cash foreign exchange’ indicators are compiled in line with total amount in manat in “Pro-forma CFES-1” (considering exchange rate differences);
2.4.11. ‘inflow to place in accounts of individuals/outflow of funds withdrawn from accounts of individuals’ indicators include data on cash foreign currency placed in/withdrawn from accounts of individuals via statistic unit’s ATMs;
2.4.12. ‘inflow of funds received from individuals for money transfers (w/o opening accounts)/outflow for paying funds from money transfers to individuals (w/o opening accounts)’ indicators cover delivery of cash funds by individuals to the statistic unit for foreign currency transfers w/o opening accounts, or paying transferred foreign currency to an individual w/o opening an account in cash;
2.4.13. ‘inflow of cash foreign currency from financial transactions with another statistic unit’ indicators provide for receipts on deposits placed by the statistic unit, receipts from investments to securities, cash foreign currency from attraction of credits and other financial transactions conducted by the statistic unit with other statistic units;
2.4.14. ‘outflow of cash foreign currency from financial transactions with another statistic unit’ indicator provides for cash foreign currency outflow from placement of deposits with another statistic unit, investments to securities, issue of credits and other financial transactions of the statistic unit with other statistic units;
2.4.15. ‘other inflow’ provides for inflow operations not specified in 2.4.2.1 - 2.4.2.8;
2.4.16. ‘other outflow’ provides for outflow operations not specified in 2.4.3.1-2.4.3.8;
2.4.17. data should be indicated in thousand manat based upon an official exchange rate of the Central Bank for the last business day of the reported period.
2.5. Statistics of bringing into/taking out of the Republic of Azerbaijan of cash foreign currency (Pro-forma CFES-3) includes:
2.5.1. bringing into/taking out of the Republic of Azerbaijan of cash foreign currency by statistic units (banknotes and coins in circulation in a particular foreign state or a group of states, considered to be a legal tender, as well as withdrawn or being withdrawn, but replaceable with those in circulation in the territory in question);
2.5.2. data on operations are compiled across the following indicators:
2.5.2.1. customs clearance date;
2.5.2.2. customs certification number;
2.5.2.3. type of cash foreign currency (banknote or coin);
2.5.2.4. amount – amount by cash foreign currency;
2.5.2.5. denomination;
2.5.2.6. name of foreign currency;
2.5.2.7. total amount on denomination – amount on denomination on the basis of the amount of cash foreign currency (amount multiplied by denomination).
2.6. Bringing into/taking out of the Republic of Azerbaijan of cash foreign currency provides for state customs clearance of cash foreign currency.
2.7. Cash foreign exchange operations statistic reporting does not include information on statistic units’ operations with securities, precious metals and stones.

3. Submission of reports

3.1. The report is delivered to the Central Bank electronically consolidated by the statistic unit across all its units within 2 (two) business days following the reported period on a monthly basis. In case of non-operations, 0 (zero) is indicated in the line(s) of the related indicator(s).
3.2. To maintain immediate analysis on cash foreign currency operations, when the Central Bank applies to the statistic unit with respect to delivery of cash foreign currency statistic reporting prematurely in writing (or electronically), the statistic unit delivers to the Central Bank the report on the dates specified by the Central Bank (or a part thereof) no later than 1 (one) business day following the date of appeal.
3.3. The report is confirmed by electronic signatures of the head, member of the executive body of the statistic unit, chief accountant or his/her substitute or the head of the structural unit responsible for delivery of the report.