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Weekly Review of Azerbaijan’s Currency Market

Business Materials 28 January 2008 18:51 (UTC +04:00)
Weekly Review of Azerbaijan’s Currency Market

Azerbaijan, Baku, 28 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 0.0001 points or 0.01%. The average rate was established at AZN 0.84542 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 25 January (0.8455 manats to 1 US dollar), in other days the rate totaled 0.8454 manats to 1 US dollar.

Official rate of AZN to 1 USD
14January 0,8453 21January 0,8454
15January 0,8454 22January 0,8454
16January 0,8454 23January 0,8454
17January 0,8453 24January 0,8454
18January 0,8453 25January 0,8455
Average weekly 0,84534 Average weekly 0,84542

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 0.001 point (0.01%). The average rate was fixed at 0.84542 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 $1.01mln with an average sustained rate of 0.8455 AZN/USD on 21 January, $10.942mln with an average sustained rate of 0.8454 AZN/USD on 22 January, $2.6mln with an average sustained rate of 0.8454 AZN/USD on 23 January, $0.55mln with an average sustained rate of 0.8454 AZN/USD on 24 January and $1.255mln with an average sustained rate of 0.8454 AZN/USD on 25 January.

Official rate of AZN to 1 USD
14January 0,8453 21January 0,8454
15January 0,8454 22January 0,8454
16January 0,8454 23January 0,8454
17January 0,8453 24January 0,8454
18January 0,8453 25January 0,8455
Average weekly 0,84534 Average weekly 0,84542
Exchange rate of AZN to 1 USD
14January 0,8454 21January 0,8455
15January 0,8454 22January 0,8454
16January 0,8454 23January 0,8454
17January 0,8454 24January 0,8454
18January 0,8454 25January 0,8454
Average weekly 0,8454 Average weekly 0,84542

No deal was concluded with USD/AZN T+1, T+2 and SWAP_USD/AZN due to an absence of appeals by dealers. Appeals were not received on RUB/AZN and EUR/AZN (Т+1, Т+2).

The deal with EUR/AZN T+0 totaled AZN 12,430 on 23 January. AZN rate totaled 1.2430 to 1 EUR.

In this period the price of vouchers rose 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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