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Weekly Review of Azerbaijan’s Currency Market

Business Materials 17 September 2007 20:38 (UTC +04:00)
Weekly Review of Azerbaijan’s Currency Market

Azerbaijan, Baku / Trend corr I. Khalilova / Last week (10 -14 September) the official rate of the manat against the US dollar, set by the National Bank of Azerbaijan rose by 0.0002 points or 0.02%. The average rate was established at 0.85198 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 10 September (0.8521 manats to 1 US dollar), the minimum on 13 and 14 September (0.8519 to 1 US dollar).

Official rate of AZN in regard to USD
3 September 0,8525 10 September 0,8521
4 September 0,8524 11 September 0,8520
5 September 0,8523 12 September 0,8520
6 September 0,8523 13 September 0,8519
7 September 0,8522 14 September 0,8519
Average weekly 0,85234 Average weekly 0,85198

As a result of last week's exchange rate of the Azerbaijani manat against the US dollar, established on the basis of results of the Baku Interbank Currency Exchange (BICEX), decreased by 0.0001 points or 0.01%. The average rate was fixed at 0.85192 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 12 September (AZN 0.8520 to 1 US dollar), the minimum on 10-14 September (AZN 0.8519 to 1 US dollar).

Deals concluded last week at BEST with transition to currency (T+0) comprised $11.6 with an average sustained exchange rate of 0.8519 AZN/USD on 10 September, $9.66mln with an average sustained rate of 0.8519 AZN/USD on 11 September, $6.3mln with an average sustained rate of 0.8520 AZN/USD on 12 September, $9mln with an average sustained rate of 0.8519 AZN/USD on 13 September and $3mln with the rate of 0.8519 AZN/USD on 14 September

Official rate of AZN in regard to USD
3 September 0,8525 10 September 0,8521
4 September 0,8524 11 September 0,8520
5 September 0,8523 12 September 0,8520
6 September 0,8523 13 September 0,8519
7 September 0,8522 14 September 0,8519
Average weekly 0,85234 Average weekly 0,85198
Exchange rate of AZN in regard to USD
3 September 0,8516 10 September 0,8519
4 September 0,8516 11 September 0,8519
5 September 0,8523 12 September 0,8520
6 September 0,8523 13 September 0,8519
7 September 0,8520 14 September 0,8519
Average weekly 0,85196 Average weekly 0,85192

No deal was concluded with USD/AZN T+1, T+2 and SWAP_USD/AZN due to an absence of appeals by dealers. The banks did not make appeals for RUB/AZN and EUR/AZN instruments at BEST.

In this period the price of vouchers increased by AZN 1 compared to the previous week and made up AZN 13. The allocation of privatization vouchers expires on the 1 January 2008.

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