Review of Azerbaijani Foreign Exchange Market for Week

Azerbaijan, Baku, 29 September / Trend corr. I.Khalilova / Official rate of AZN cut by 0.41% regarding US dollar, which was fixed by the National Bank of Azerbaijan (NBA), last week. Average rate was fixed at a level of AZN 0.80759 for $1 last week.

Maximum rate of US dollar regarding AZN was determined as AZN 0.8111 for $1 on 22 September and minimum - AZN 0.8069 for $1 on 26 September.

Exchange rate of AZN regarding US dollar, which was fixed at the Baku Interbank Currency Exchange, cut by 0.43% in this week. Average rate was determined as AZN 0.80742 for $1.

In this period maximum rate of US dollar regarding AZN was fixed as AZN 0.8106 for $1 on 22 September and minimum - as AZN 0.8063 for $1 on 26 and 27 September.

Within a week at BEST deals were signed on the same day (T+10): 22 September - $0.470mln with 0.8106 AZN/USD rate, 23 September - $0.875mln with 0.8071 AZN/USD, 24 September - no deals for the lack of demand and the rate was maintained at 0.8071 AZN/USD, 25 September - $1.065mln with 0.8071 AZN/USD rate, 26 September - $36.2mln with 0.8063 AZN/USD and 27 September - no deals for the lack of demand and the rate was maintained at 0.8063 AZN/USD rate.

Deals were not signed on USD/AZN T+1, T+2 and SWAP_USD/AZN tools for the lack of demand. Banks did not submit applications on RUB/AZN and EUR/AZN tools at BEST.

Prices on privatized checks remained at AZN 18 - unchangeable last week.

Action term in applications of privatized checks was fixed to 1 January 2010.