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Weekly Review of Azerbaijan’s Currency Market

Business Materials 26 November 2007 14:21 (UTC +04:00)
Weekly Review of Azerbaijan’s Currency Market

Azerbaijan, Baku / Trend corr I. Khalilova / Last week the official rate of the manat against the US dollar, set by the National Bank of Azerbaijan, rose by 0.0001 points or 0.01%. The average rate was established at AZN 0.84772 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 19 November (0.8478 manats to 1 US dollar), the minimum on 20-23 November (0.8477 to 1 US dollar).

Official rate of AZN to 1 USD
12November 0,8483 19November 0,8478
13November 0,8483 20November 0,8477
14November 0,8481 21November 0,8477
15November 0,8480 22November 0,8477
16November 0,8479 23November 0,8477
Average weekly 0,84812 Average weekly 0,84772

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 0.8478 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 19 November (AZN 0.8479 to 1 US dollar), the minimum on 23 November (AZN 0.8477 to 1 US dollar).

Deals concluded last week at BEST with transition to currency (T+0) comprised $8.63mln with an average sustained rate of 0.8479 AZN/USD on 19 November, $18.905mln with an average sustained rate of 0.8478 AZN/USD on 20 November, $31.375mln with an average sustained rate of 0.8478 AZN/USD on 21 November, $0.2mln with an average sustained rate of 0.8478 AZN/USD on 22 November and $4.817mln with the rate of 0.8477 AZN/USD on 23 November.

Official rate of AZN to 1 USD
12November 0,8483 19November 0,8478
13November 0,8483 20November 0,8477
14November 0,8481 21November 0,8477
15November 0,8480 22November 0,8477
16November 0,8479 23November 0,8477
Average weekly 0,84812 Average weekly 0,84772
Exchange rate of AZN to 1 USD
12November 0,8472 19November 0,8479
13November 0,8470 20November 0,8478
14November 0,8466 21November 0,8478
15November 0,8466 22November 0,8478
16November 0,8464 23November 0,8477
Average weekly 0,84676 Average weekly 0,8478

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 remained unchanged, AZN 16. The duration of allocation of privatization vouchers was extended to 1 January 2010.

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