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Weekly Review of Azerbaijan’s Currency Market

Business Materials 14 January 2008 20:28 (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 points or 0%. The average rate was established at AZN 0.8453 to 1 US dollar.

Last week the rate did not change and was established at AZN 0.8453.

Official rate of AZN to 1 USD
24December 0,8457 7 January 0,8453
25December 0,8456 8 January 0,8453
26December 0,8455 9 January 0,8453
27December 0,8455 10January 0,8453
28December 0,8454 11January 0,8453
Average weekly 0,84554 Average weekly 0,8453

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 0.84534 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 10-11 January (AZN 0.8454 to 1 US dollar), the minimum on 7-9 January (AZN 0.8453 to 1 US dollar).

Deals concluded last week at BEST with transition to currency (T+0) comprised $34.922mln with an average sustained rate of 0.8453 AZN/USD on 7 January, $55.14mln with an average sustained rate of 0.8453 AZN/USD on 8 January, $3.97mln with an average sustained rate of 0.8453 AZN/USD on 9 January, $4.209mln with an average sustained rate of 0.8454 AZN/USD on 10 January and $3.15mln with an average sustained rate of 0.8454 AZN/USD on 11 January.

Official rate of AZN to 1 USD
24December 0,8457 7 January 0,8453
25December 0,8456 8 January 0,8453
26December 0,8455 9 January 0,8453
27December 0,8455 10January 0,8453
28December 0,8454 11January 0,8453
Average weekly 0,84554 Average weekly 0,8453
Exchange rate of AZN to 1 USD
24December 0,8445 7 January 0,8453
25December 0,8446 8 January 0,8453
26December 0,8455 9 January 0,8453
27December 0,8455 10January 0,8454
28December 0,8454 11January 0,8454
Averagely weekly 0,8451 Averagely weekly 0,84534

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 1,489,320. AZN rate totaled 1.2416 to 1 EUR.

In this period the price of vouchers did not change, AZN 14. The duration of allocation of privatization vouchers was extended to 1 January 2010.

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