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Weekly Review of Azerbaijan’s Currency Market

Business Materials 10 December 2007 13:14 (UTC +04:00)

Azerbaijan, Baku / corr Trend I. Khalilova / Last week the official rate of the manat against the US dollar, set by the National Bank of Azerbaijan, rose by 0.0005 points or 0.05%. The average rate was established at AZN 0.84672 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 3 December (0.8470 manats to 1 US dollar), the minimum on 6-7 December (0.8465 to 1 US dollar).

Official rate of AZN to 1 USD
26November 0,8475 3December 0,8470
27November 0,8474 4December 0,8469
28November 0,8473 5December 0,8467
29November 0,8472 6December 0,8465
30November 0,8471 7December 0,8465
Average weekly 0,8473 Average weekly 0,84672

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 0.0001 points or 0.01%. The average rate was fixed at 0.8445 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 3 December (AZN 0.8454 to 1 US dollar), the minimum on 5 December (AZN 0.8443 to 1 US dollar).

Deals concluded last week at BEST with transition to currency (T+0) comprised $22.638mln with an average sustained rate of 0.8454 AZN/USD on 3 December, $3,905mln with an average sustained rate of 0.8452 AZN/USD on 4 December, $14.764mln with an average sustained rate of 0.8443 AZN/USD on 5 December, $7.816mln with an average sustained rate of 0.8448 AZN/USD on 6 December and $4.432mln with the rate of 0.8453 AZN/USD on 7 December.

Official rate of AZN to 1 USD
26November 0,8475 3December 0,8470
27November 0,8474 4December 0,8469
28November 0,8473 5December 0,8467
29November 0,8472 6December 0,8465
30November 0,8471 7December 0,8465
Average weekly 0,8473 Average weekly 0,84672
Exchange rate of AZN to 1 USD
26November 0,8472 3December 0,8454
27November 0,8459 4December 0,8452
28November 0,8465 5December 0,8443
29November 0,8458 6December 0,8448
30November 0,8456 7December 0,8453
Average weekly 0,8462 Average weekly 0,8445

No deal was concluded with USD/AZN T+1, T+2 and SWAP_USD/AZN due to an absence of appeals by dealers. The deal with EUR/AZN T+0 was amounted to AZN 559 035. The average rate was fixed at 1.2421 to 1 EUR.

In this period, the price of vouchers decreased by AZN 1 and made up AZN 15. The duration of allocation of privatization vouchers was extended to 1 January 2010.

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