Results of 28 December Exchange’s Trading Session at BBVB Announced

Business Materials 28 December 2007 20:58 (UTC +04:00)

Azerbaijan, Baku / Trend / As a result of the trading session held at the Baku Interbank Currency Exchange (BBVB) on 28 December, the average sustained exchange rate of USD/AZN totaled AZN 0.8455 to 1 USD.

The rate of USD/AZN at the opening of the morning session at the Bourse E-system of trades-BEST was AZN 0.8455 to $1. The deal on USD/AZN T+0 tool amounted to AZN 2,198,300. As a result of the session, the AZN rate remained unchanged.

During the daily session at BEST, the deals with USD/AZN T+0 tool were fixed in the amount of AZN 14,796,250. The average sustained rate of the day sessions comprised AZN 0.8455 to $1

Therefore, the total amount of both trading sessions on USD made up $20,100,000 or AZN 16,994,550. Each deal constituted $1.256,250.

Due to the absence of demand for dealers, no deal was concluded on USD/AZN T+1, T+2 and SWAP_USD/AZN tools. The banks did not place appeals on EUR/AZN and RUB/AZN tools at BEST.

The BakiBOR index, calculated on the basis of appeals by market makers on 90-day tools made up 15.25% in manats and 16.00% in dollars a year at the organized inter-bank credit market functioning at BEST system

The deal at the organized inter-bank credit market functioning at BEST totaled AZN 3,000,000 under 11% interest rate for borrowing period of 60 days.