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MONETARY SECTOR

Politics Materials 8 June 2006 12:09

Currency market and rate of manat

In April 2006 the Technikabank became a leader at the Baku Interbank Currency Exchange. Previously, the International Bank of Azerbaijan (IBA) was a leader at the exchange currency market of Azerbaijan in 2003 (December, November, September, July, August) and 2004 (except October), in 2005 excluding December. The similar tendency was observed this year.

Amount of currency trading sessions at BBVB in April 2006

Amount, in mln USD

Rise in April 2006

Total, (BEST)

$91,094

34,5%

Without consideration of the deals at the NBA, 13.23% of the currency turnover fell on Technikabank

Along with the Technikabank, the top five included UniBank (13.01%), Bank of Baku (11.29%), IBA (8.32%) and CД°Bank (7.24%).

As of totals of February the leaders were the IBA (22.42%), Bank of Baku (19.41%), Bank Standard Azerigazbank (5.61%). Rabitabank (4.59%) and Kochbank-Azerbaijan (3.03%).

Banks

AMOUNT OF THE TOTAL, РІ %

Technikabank

13,23

UniBank

13,01

Bank of Baku

11,29

IBA

8,32

CД°Bank

7,24

In April 23 member-banks of the currency section participated in the auctions. They concluded 90 deals at 40 trading sessions with the total amount of 82,537m manats, or $91,094m, which is 34.5% more as compared to March.

As of January to Aoril 2006 the amount of trading session with the foreign currency at BBVB made up 247,420m manats, which is 15.21% less than deals registerd at the currency section of exchange in Jnauary to April 2005.

The exchange rate of the national currency rose 0.59% - from 0,9090 manats to 0.9036 manats per 1 USD. In the end, the average sustained rate of AZM in regard to USD made up 0,9061 manats per 1 USD in April, whereas asd of March it was 0,9099 AZN In general, over the past year the exchange rate grew 6.29% in respect to manat.

As of technical reasons the NBA failed to present parameters on monteray policy for January to April 2006.

Stock market

In January to April of 2006 the Ministry of Finances held 8 auctions on placement of T-bills and of them only 2 were held in March. The auction with the issue of 30mn manats resulted in the placement of 24,769,800m manats (80.6% of the issue). In April the amount of issue comprised 7m manats, of which only 6,232m manats has been placed. The average sustained profitability rate of the auction comprised 9.09% per annum. 9 deals were held at the secondary market with the total amount of 3,599,068,62 manats.

In the first quarter the National Bank of Azerbaijan (NBA) held 17 auctions on placement of short-term notes, including 4 in April. The emitter succeeded to place 158m manats of the total of 151,007,200m manats. In April 38,707m manats was placed at 4 auctions in April with the issue of 43m manats. The average sustained profitability rate on the results of all auctions comprised 6.72% per annum.

31 deals on short-term bonds was fixed at the secondary market in the amount of 13,945,980,04 manats, which 5,714,489,18 fell on 12 deals concluded in April

In January to April 12,797,449,20 manats was placed at the corporate shares market, while at the secondary market on short-term notes with the total amount of 2,167,171,56 manats. Initial placement of corporate bonds comprised $3,819,400 and 3,533 manats, while at the secondary market it was fixed at $631,473,24 and 2 deals on bonds of Bank Standard in the amount of 298,261,77 manats.

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