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Weekly Review of Azerbaijan’s Currency Market

Business Materials 8 October 2007 12:23
Weekly Review of Azerbaijan’s Currency Market

Azerbaijan, Baku / Trend corr I. Khalilova / Last week (1 - 5 October) the official rate of the manat against the US dollar, set by the National Bank of Azerbaijan rose by 0.0003 points or 0.03%. The average rate was established at 0.85082 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 1 October (0.8510 manats to 1 US dollar), the minimum on 4 and 5 October (0.8507 to 1 US dollar).

Official rate of AZN to 1 USD
24 September 0,8515 1 October 0,8510
25 September 0,8515 2 October 0,8509
26 September 0,8514 3 October 0,8508
27 September 0,8513 4 October 0,8507
28 September 0,8512 5 October 0,8507
Average weekly 0,85138 Average weekly 0,85082

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 0.0002 points or 0.02%. The average rate was fixed at 0.85032 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 1 October (AZN 0.8505 to 1 US dollar), the minimum on 3 and 4 October (AZN 0.8507 to 1 US dollar).

Deals concluded last week at BEST with transition to currency (T+0) comprised $0.55mln with an average sustained exchange rate of 0.8505 AZN/USD on 1 October, $9.48mln with an average sustained rate of 8.8502 AZN/USD on 2 October, $8.186mln with an average sustained rate of 0.8502 AZN/USD on 3 October, $6.705mln with an average sustained rate of 0.8509 AZN/USD on 4 October and $4.06mln with the rate of 0.8503 AZN/USD on 5 October.

Official rate of AZN to 1 USD
24 September 0,8515 1 October 0,8510
25 September 0,8515 2 October 0,8509
26 September 0,8514 3 October 0,8508
27 September 0,8513 4 October 0,8507
28 September 0,8512 5 October 0,8507
Average weekly 0,85138 Average weekly 0,85082
Exchange rate of AZN to 1 USD
24 September 0,8515 1 October 0,8505
25 September 0,8515 2 October 0,8504
26 September 0,8511 3 October 0,8502
27 September 0,8509 4 October 0,8502
28 September 0,8507 5 October 0,8503
Average weekly 0,85114 Average weekly 0,85032

No deal was concluded with USD/AZN T+1, T+2 and SWAP_USD/AZN due to an absence of appeals by dealers. No deal with EUR/AZN T+0 was fixed.

In this period the price of vouchers was AZN 16. The allocation of privatization vouchers expires on the 1 January 2008.

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