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Weekly Review of Azerbaijan’s Currency Market

Business Materials 25 February 2008 14:14 (UTC +04:00)
Weekly Review of Azerbaijan’s Currency Market

Azerbaijan, Baku, 25 February / 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 0.0002 points or 0.02%. The average rate was established at AZN 0.84402 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 18 and 19 February (AZN 0.8441 to 1 US dollar) and the minimum on 22 February (AZN 0.8439 to 1 US dollar).

Official rate of AZN to 1 USD
11 February 0,8444 18 February 0,8441
12 February 0,8442 19 February 0,8441
13 February 0,8442 20 February 0,8440
14 February 0,8441 21 February 0,8440
15 February 0,8441 22 February 0,8439
Average weekly 0,8442 Average weekly 0,84402

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 points (0.03%). The average rate was fixed at 0.84398 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 18 and 19 February (AZN 0.8441 to 1 US dollar) and minimum on 20 February (AZN 0.8438 to 1 US dollar).

Deals concluded last week at BEST with transition to currency (T+0) comprised $2.025mln with an average sustained rate of 0.8441 AZN/USD on 18 February, $1.045mln with an average sustained rate of 0.8441 AZN/USD on 19 February, $1.31mln with an average sustained rate of 0.8438 AZN/USD on 20 February, $0.2mln with an average sustained rate of 0.8440 AZN/USD on 21 February and $30.355mln with an average sustained rate of 0.8439 AZN/USD on 22 February

Official rate of AZN to 1 USD
11 February 0,8444 18 February 0,8441
12 February 0,8442 19 February 0,8441
13 February 0,8442 20 February 0,8440
14 February 0,8441 21 February 0,8440
15 February 0,8441 22 February 0,8439
Average weekly 0,8442 Average weekly 0,84402
Exchange rate of AZN to 1 USD
11 February 0,8440 18 February 0,8441
12 February 0,8441 19 February 0,8441
13 February 0,8439 20 February 0,8438
14 February 0,8441 21 February 0,8440
15 February 0,8436 22 February 0,8439
Average weekly 0,84394 Average weekly 0,84398

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).

Last week a deal with EUR/AZN T+0 made up AZN 431,119. On 19 February deals amounted to AZN 18,850 with average sustained rate of AZN 1.2377 per €1, and on 22 February AZN 412,269 with the average sustained rate of AZN 1.2493 per €1.

In this period the price of vouchers made up AZN 16. The expiration of the checks ends in 2010.

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