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Weekly Review of Azerbaijan’s Currency Market

Business Materials 4 February 2008 13:03 (UTC +04:00)

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 0.0003 points or 0.03%. The average rate was established at AZN 0.84524 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 28-29 January (AZN 0.8454 to 1 US dollar) and the minimum on 31 January and 1 February (AZN 0.8451 to 1 US dollar.

Official rate of AZN to 1 USD
21 January 0,8454 28 January 0,8454
22 January 0,8454 29 January 0,8454
23 January 0,8454 30 January 0,8452
24 January 0,8454 31 January 0,8451
25 January 0,8455 1 February 0,8451
Average weekly 0,84542 Average weekly 0,84524

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 0.0003 point (0.03%). The average rate was fixed at 0.84518 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 29 January (AZN 0.8454 to 1 US dollar) and minimum on 1 February (AZN 0.8450 to 1 US dollar).

Deals concluded last week at BEST with transition to currency (T+0) comprised $5.555mln with an average sustained rate of 0.8453 AZN/USD on 28 January, $0.67mln with an average sustained rate of 0.8454 AZN/USD on 29 January, $4.25mln with an average sustained rate of 0.8451 AZN/USD on 30 January, no deals were concluded but an average sustained rate was 0.8451 AZN/USD on 31 January and $2mln with an average sustained rate of 0.8450 AZN/USD on 1 February.

Official rate of AZN to 1 USD
21 January 0,8454 28 January 0,8454
22 January 0,8454 29 January 0,8454
23 January 0,8454 30 January 0,8452
24 January 0,8454 31 January 0,8451
25 January 0,8455 1 February 0,8451
Average weekly 0,84542 Average weekly 0,84524
Exchange rate of AZN to 1 USD
21 January 0,8455 28 January 0,8453
22 January 0,8454 29 January 0,8454
23 January 0,8454 30 January 0,8451
24 January 0,8454 31 January 0,8451
25 January 0,8454 1 February 0,8450
Average weekly 0,84542 Average weekly 0,84518

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 623,900 on 30 January. AZN rate totaled 1.2478 to 1 EUR.

In this period the price of vouchers rose by AZN 1 and made up AZN 15.

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