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Weekly Review of Azerbaijan’s Currency Market

Business Materials 21 January 2008 12:51 (UTC +04:00)

Azerbaijan, Baku, 21 January / 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 0.001 points or 0.01%. The average rate was established at AZN 0.84534 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 15-16 January (0.8454 manats to 1 US dollar), the minimum on 14, 17 and 18 January (0.8454 to 1 US dollar).

Official rate of AZN to 1 USD
7 January 0,8453 14January 0,8453
8 January 0,8453 15January 0,8454
9 January 0,8453 16January 0,8454
10January 0,8453 17January 0,8453
11January 0,8453 18January 0,8453
Average weekly 0,8453 Average weekly 0,84534

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 to 0 point. The average rate was fixed at 0.8454 to 1 US dollar.

Last week the rate did not change and was established at AZN 0.8454.

Deals concluded last week at BEST with transition to currency (T+0) comprised $10.885mln with an average sustained rate of 0.8454 AZN/USD on 14 January, $4.58mln with an average sustained rate of 0.8454 AZN/USD on 15 January, $0.775mln with an average sustained rate of 0.8454 AZN/USD on 16 January, $4.048mln with an average sustained rate of 0.8454 AZN/USD on 17 January and $10.083mln with an average sustained rate of 0.8454 AZN/USD on 18 January.

Official rate of AZN to 1 USD
7 January 0,8453 14January 0,8453
8 January 0,8453 15January 0,8454
9 January 0,8453 16January 0,8454
10January 0,8453 17January 0,8453
11January 0,8453 18January 0,8453
Average weekly 0,8453 Average weekly 0,84534
Exchange rate of AZN to 1 USD
7 January 0,8453 14January 0,8454
8 January 0,8453 15January 0,8454
9 January 0,8453 16January 0,8454
10January 0,8454 17January 0,8454
11January 0,8454 18January 0,8454
Average weekly 0,84534 Average weekly 0,8454

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.

Only one deal concluded with EUR/AZN T+0 on 17 Jnauary which amounted to AZN 620,500. The average sustained rate was AZN 1.2410 to 1 EUR.

In this period the price of vouchers did not change, comprising AZN 14 like in 2007. The duration of allocation of privatization vouchers was extended to 1 January 2010.

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