Weekly Review of Azerbaijan’s Currency Market

Azerbaijan, Baku / Trend corr I. Khalilova / Last week (17 -21 September) the official rate of the manat against the US dollar, set by the National Bank of Azerbaijan rose by 0.0004 points or 0.04%. The average rate was established at 0.85168 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 17 September (0.8519 manats to 1 US dollar), the minimum on 20 and 21 September (0.8515 to 1 US dollar).

As a result of last week's exchange rate of the Azerbaijani manat against the US dollar, established on the basis of results from the Baku Interbank Currency Exchange (BICEX), decreased by 0.0004 points or 0.04%. The average rate was fixed at 0.8517 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 17 September (AZN 0.8519 to 1 US dollar), the minimum on 20-21 September (AZN 0.8515 to 1 US dollar).

Deals concluded last week at BEST with transition to currency (T+0) comprised $4.4mln with an average sustained exchange rate of 0.8519 AZN/USD on 17 September, $6.273mln with an average sustained rate of 0.8518 AZN/USD on 18 September, $0.66mln with an average sustained rate of 0.8518 AZN/USD on 19 September, $0.6mln with an average sustained rate of 0.8515 AZN/USD on 20 September and $1.65mln with the rate of 0.8515 AZN/USD on 21 September

No deal was concluded with USD/AZN T+1, T+2 and SWAP_USD/AZN due to an absence of appeals by dealers. A deal with EUR/AZN T+0 was fixed on 18 September in the amount of AZN 23, 638. Average sustained rate was AZN 1.1819 to 1 EUR.

In this period the price of vouchers made up AZN 13. The allocation of privatization vouchers expires on the 1 January 2008.