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Weekly review of Azerbaijan's currency market

Business Materials 4 May 2009 13:54 (UTC +04:00)

Azerbaijan, Baku, May 1/ Trend , N. Ismayilova/ Last week the official rate of the manat against the US dollar, set by the National Bank of Azerbaijan, dropped 0.0001 points or 0.01 percent. The average rate was established at 0. 0. 80346manats to 1 U.S. dollar. 

Last week the maximum rate of the US dollar compared to manat was established at 0.8036 per dollar on April 28 and minimum (0.8034 manats to 1 U.S. dollar) on April 30.

Exchange rate of manat to 1 U.S. dollar

April 20

0.8034

April 27

0.8034

April 21

0.8035

April 28

0.8036

April 22

0.8035

April 29

0.8034

April 23

0.8035

30

0.8034

April 24

0.8035 

May 1                                                  

0.8035 

Average weekly

0.80348

Average weekly

0.80346

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), consolidated by 0.0002 points (0.02 percent). The average rate was fixed at 0. 80298 to 1 U.S. dollar.

Deals concluded last week at BEST with transition to currency (T+0) comprised: on April 27, $0.6 million with the average sustained rate of 0. 8030 manats to 1U.S. dollar, April 28, $6.51 million with the average sustained rate of 0. 8031 manats to 1 U.S. dollar, on April 29, no deals were concluded and exchange rate remained the same - 0.8031 manat to a U.S. dollar, on April 30 $8.34 million with the average sustained rate of 0. 8028manats to 1 U.S. dollar and on may 1, $5.12 million with the average sustained rate of 0.8029 manats to 1 U.S. dollar.

Exchange rate of manat to 1 U.S. dollar

April 20

0.8021

April 27

0.8030

April 21

0.8021

April 28

0.8031

April 22

0.8031

April 29

0.8031

April 23

0.8031

30

0.8028

April 24

0.8031

May 1                                                  

0.8029

Average weekly

0.8027

Average weekly

0.80298

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.  

Last week the price of the privatization vouchers remained the same - 8 manat. The validity period of the vouchers will expire on Jan. 1 2010.

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