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Weekly Review of Azerbaijan’s Currency Market

Business Materials 19 November 2007 15:48 (UTC +04:00)
Weekly Review of Azerbaijan’s Currency Market

Azerbaijan, Baku / Trend corr I. Khalilova / Last week (12 to 16 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 0.84812 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 12 and 13 November (0.8483 manats to 1 US dollar), the minimum on 16 November (0.8479 to 1 US dollar).

Official rate of AZN to 1 USD
5 November 0,8488 12 November 0,8483
6 November 0,8488 13 November 0,8483
7 November 0,8487 14 November 0,8481
8 November 0,8485 15 November 0,8480
9 November 0,8484 16 November 0,8479
Average weekly 0,84864 Average weekly 0,84812

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 0.0008 points or 0.08%. The average rate was fixed at 0.84676 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 12 November (AZN 0.8472 to 1 US dollar), the minimum on 16 November (AZN 0.8464 to 1 US dollar).

Deals concluded last week at BEST with transition to currency (T+0) comprised $0.0 with an average sustained rate of 0.8472 AZN/USD on 12 November, $19.723mln with an average sustained rate of 0.8470 AZN/USD on 13 November, $6.382mln with an average sustained rate of 0.8466 AZN/USD on 14 November, $5.615mln with an average sustained rate of 0.8466 AZN/USD on 15 November and $7.661mln with the rate of 0.8464 AZN/USD on 16 November.

Official rate of AZN to 1 USD
5 November 0,8488 12 November 0,8483
6 November 0,8488 13 November 0,8483
7 November 0,8487 14 November 0,8481
8 November 0,8485 15 November 0,8480
9 November 0,8484 16 November 0,8479
Average weekly 0,84864 Average weekly 0,84812
Exchange rate of AZN to 1 USD
5 November 0,8479 12 November 0,8472
6 November 0,8478 13 November 0,8470
7 November 0,8483 14 November 0,8466
8 November 0,8473 15 November 0,8466
9 November 0,8472 16 November 0,8464
Average weekly 0,8477 Average weekly 0,84676

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.

Two deals were concluded with EUR/AZN T+0 with the total amount of AZN 513,446. A deal worth AZN 497,280 was concluded on 14 November with the average sustained rate of AZN 1.2429 per 1 EUR. On 16 November the amount of the deal was AZN 16,166 with the average sustained rate of AZN 1.2435 per 1 EUR.

In this period the price of vouchers was AZN 16. The allocation of privatization vouchers expires on the 1 January 2010.

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