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Weekly Review of Azerbaijan’s Currency Market

Business Materials 12 November 2007 14:56 (UTC +04:00)
Weekly Review of Azerbaijan’s Currency Market

Azerbaijan, Baku / Trend corr I. Khalilova / Last week (5 to 9 November) 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 AZN 0.84864 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 5 and 6 November (0.8488 manats to 1 US dollar), the minimum on 9 November (0.8484 to 1 US dollar).

Official rate of AZN to 1 USD
29 October 0,8495 5 November 0,8488
30 October 0,8493 6 November 0,8488
31 October 0,8492 7 November 0,8487
1 November 0,8491 8 November 0,8485
2 November 0,8489 9 November 0,8484
Average weekly 0,8492 Average weekly 0,84864

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 0.0007 points or 0.07%. The average rate was fixed at 0.8477 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 7 November (AZN 0.8483 to 1 US dollar), the minimum on 9 November (AZN 0.8472 to 1 US dollar).

Deals concluded last week at BEST with transition to currency (T+0) comprised $9mln with an average sustained rate of 0.8479 AZN/USD on 5 November, $6.236mln with an average sustained rate of 0.8478 AZN/USD on 6 November, $2.3mln with an average sustained rate of 0.8487 AZN/USD on 7 November, $5.55mln with an average sustained rate of 0.8483 AZN/USD on 8 November and $5.465mln with the rate of 0.8472 AZN/USD on 9 November.

Official rate of AZN to 1 USD
29 October 0,8495 5 November 0,8488
30 October 0,8493 6 November 0,8488
31 October 0,8492 7 November 0,8487
1 November 0,8491 8 November 0,8485
2 November 0,8489 9 November 0,8484
Average weekly 0,8492 Average weekly 0,84864
Exchange rate of AZN to 1 USD
29 October 0,8490 5 November 0,8479
30 October 0,8488 6 November 0,8478
31 October 0,8487 7 November 0,8483
1 November 0,8483 8 November 0,8473
2 November 0,8479 9 November 0,8472
Average weekly 0,84854 Average weekly 0,8477

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

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