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Weekly review of Azerbaijan’s currency market

Business Materials 9 February 2009 10:52 (UTC +04:00)
Weekly review of Azerbaijan’s currency market

Azerbaijan, Baku, Feb. 9 / Trend , I.Khalilova/

Last week the official rate of the manat against the US dollar, set by the National Bank of Azerbaijan, dropped 0.0007 points or 0.07 percent. The average rate was established at 0. 0.80748 manats to 1 U.S. dollar. 

Last week the maximum rate of the US dollar compared to manat was established on Feb. 5-6 (0. 808 manats to 1 U.S. dollar) and minimum on Feb. 4 (0.807 manats to 1 U.S. dollar).

Official rate of manat to 1 U.S. dollar

26 January

0.8052

2 February

0.8073

27 January

0.8048 

3 February

0.8071

28 January

0.8048

4 February

0.8070

29 January

0.8058

5 February

0.8080

30 January                                                      

0.8067

6 February                                                     

0.8080 

Average weekly

0.80546

Средний курс за неделю

0.80748

As a result of last week's exchange rate of the Azerbaijani manat to the U.S. dollar, established based on results from the Baku Inter-bank Currency Exchange (BICEX), remained stable. The average rate was fixed at 0.8057 to 1 U.S. dollar.

Deals concluded last week at BEST with transition to currency (T+0) comprised: $2.25 million with the average sustained rate of 0.8057 manat to 1 U.S. dollar on Feb. 2, $1.388 million with the average sustained rate of 0. 8057 manats to 1 U.S. dollar on Feb. 3, $0.755 million with the average sustained rate of 0. 8057 manats to 1 U.S. dollar on Feb. 4, $0.099 million with the average sustained rate of 0. 8057 manats to 1 U.S. dollar on Feb. 5, and $3.102 million with the average sustained rate of 0.8057 manats to 1 U.S. dollar on Feb. 6.

Exchange rate of manat to 1 U.S. dollar

26 January

0.8053

2 February

0.8057

27 January

0.8053

3 February

0.8057

28 January

0.8053

4 February

0.8057

29 January

0.8057

5 February

0.8057

30 January

0.8057

6 February                                                       

0.8057

Average weekly

0.80546

Average weekly

0.8057

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 (Ň+1, Ň+2).

Last week the price on the privatization vouchers were falling from the high level of last year -25-26 manat. After a rapid hike (67 percent) two weeks ago, prices on vouchers began falling. On Feb. 2, price on a privatization voucher was 23 manat, but dropped to 16 manat on Feb. 4.

The validity period of the vouchers will expire on Jan. 1 2010.

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