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MANAT STRENGTHENED BY 18% AGAINST EURO

Business Materials 29 July 2005 17:16 (UTC +04:00)

In the first half of 2005 the actual exchange rate of the Azerbaijani manat (without accounting the oil sector) grew, based on the ecometrical estimates of the external goods turnover, by 11%, including by 7,9% in import and by 13,7% in export.

The result is strengthening of the actual and nominal manat’s rate of exchange to the currencies of the major trade partners, the National Bank of Azerbaijan told Trend.

The nominal effective rate of manat to euro grew by 14%, and the actual effective manat rate - by 18%. The nominal effective rate of manat to the Russian rouble grew by 5,7%, and the actual effective rate of manat вЂ" by 2,7%.

The nominal effective rate of manat to the new Turkish lira did not change with the growth of the actual effective rate of manat by 2,2%, to the Georgian lari grew by 4,6% with the growth of the actual rate by 6,3%, to the Iranian real вЂ" by 5,7% with the growth of the actual rate by 1,3%, to the Kazakhstan tenge- by 6,5% with the growth of the actual rate by 7,7%, to the Japanese yena - by 8,2% with the actual effective rate of manat growth by 13,7%, to Israeli shekel вЂ" by 7% with the actual and effective rate of manat growth by 11,1%. The nominal effective rate of manat to the Ukrainian grivna lowered by 1,6% with the lowering of the actual rate by 3%.

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