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Weekly Review of Azerbaijan’s Currency Market

Business Materials 5 November 2007 12:05 (UTC +04:00)
Weekly Review of Azerbaijan’s Currency Market

Azerbaijan, Baku / Trend corr I. Khalilova / Last week (29 October - 2 November) the official rate of the manat against the US dollar, set by the National Bank of Azerbaijan rose by 0.0006 points or 0.06%. The average rate was established at AZN 0.8492 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 29 October (0.8495 manats to 1 US dollar), the minimum on 2 November (0.8492 to 1 US dollar).

Official rate of AZN to 1 USD
22 October 0,8499 29 October 0,8495
23 October 0,8499 30 October 0,8493
24 October 0,8498 31 October 0,8492
25 October 0,8497 1 November 0,8491
26 October 0,8497 2 November 0,8489
Weekly Average 0,8498 Weekly Average 0,8492

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 0.0011 points or 0.11%. The average rate was fixed at 0.84854 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 29 October (AZN 0.8490 to 1 US dollar), the minimum on 2 November (AZN 0.8479 to 1 US dollar).

Deals concluded last week at BEST with transition to currency (T+0) comprised $5.2mln with an average sustained rate of 0.8490 AZN/USD on 30 October, $4.1mln with an average sustained rate of 0.8488 AZN/USD on 30 October, $2.3mln with an average sustained rate of 0.8487 AZN/USD on 31 October, $15.46mln with an average sustained rate of 0.8483 AZN/USD on 1 November and $15.460mln with the rate of 0.8479 AZN/USD on 2 November.

Official rate of AZN to 1 USD
22 October 0,8499 29 October 0,8495
23 October 0,8499 30 October 0,8493
24 October 0,8498 31 October 0,8492
25 October 0,8497 1 November 0,8491
26 October 0,8497 2 November 0,8489
Weekly Average 0,8498 Weekly Average 0,8492
Exchange rate of AZN to 1 USD
22 October 0,8493 29 October 0,8490
23 October 0,8493 30 October 0,8488
24 October 0,8493 31 October 0,8487
25 October 0,8492 1 November 0,8483
26 October 0,8492 2 November 0,8479
Weekly Average 0,84926 Weekly Average 0,84854

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 14. The allocation of privatization vouchers expires on the 1 January 2008.

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