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Weekly Review of Azerbaijan’s Currency Market

Business Materials 30 December 2007 19:19 (UTC +04:00)
Weekly Review of Azerbaijan’s Currency Market

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 0.0003 points or 0.03%. The average rate was established at AZN 0.84554 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 24 December (0.8457 manats to 1 US dollar), the minimum on 28 December (0.8454 to 1 US dollar).

Official rate of AZN to 1 USD
17December 0,8460 24December 0,8457
18December 0,8459 25December 0,8456
19December 0,8458 26December 0,8455
20December - 27December 0,8455
21December - 28December 0,8454
Average weekly 0,8459 Average weekly 0,84554

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 0.0009 points or 0.09%. The average rate was fixed at 0.8451 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 26-27 December (AZN 0.8455 to 1 US dollar), the minimum on 24 December (AZN 0.8445 to 1 US dollar).

Deals concluded last week at BEST with transition to currency (T+0) comprised $22.83mln with an average sustained rate of 0.8445 AZN/USD on 24 December, $2.305mln with an average sustained rate of 0.8446 AZN/USD on 25 December, $29.028mln with an average sustained rate of 0.8455 AZN/USD on 26 December, $20.1mln with an average sustained rate of 0.8455 AZN/USD on 27 December and 58.085mln with an average sustained rate of 0.8454 AZN/USD on 28 December.

Official rate of AZN to 1 USD
17December 0,8460 24December 0,8457
18December 0,8459 25December 0,8456
19December 0,8458 26December 0,8455
20December - 27December 0,8455
21December - 28December 0,8454
Average weekly 0,8459 Average weekly 0,84554
Exchange rate of AZN to 1 USD
17December 0,8446 24December 0,8445
18December 0,8447 25December 0,8446
19December 0,8448 26December 0,8455
20December - 27December 0,8455
21December - 28December 0,8454
Average weekly 0,8447 Average weekly 0,8451

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 totaled AZN 1,358,280. AZN rate totaled 1.2361 to 1 EUR.

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

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