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Weekly review of Azerbaijan's currency market

Business Materials 29 June 2009 11:05 (UTC +04:00)

Azerbaijan, Baku, June 29 / 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. 80406 manats to 1 U.S. dollar. 

Last week the maximum rate of the US dollar compared to manat was established on June 23, 25 and 26 (0. 8041 manats to 1 U.S. dollar) and minimum on June 22 and 24 (0. 804 manats to 1 U.S. dollar).

Exchange rate of manat to 1 U.S. dollar

June15

0,8039

June 22

0,8040

June 16

0,8039

June 23

0,8041

June 17

0,8039

June 24

0,8040

June 18

0,804

June 25

0,8041

June 19

0,804 

June 26

0,8041 

Average weekly

0,80394

Average weekly

0,80406

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 unchanged at  0.8041 to 1 U.S. dollar. 

Deals concluded last week at BEST with transition to currency (T+0) comprised: on June 22 $0.7 million with average sustained rate of 0.8041 manats to US dollar, on June 23, $0.95 million manat with the average sustained rate of 0. 8041 manats to 1 U.S. dollar, on June 24 $4.48 million with the average sustained rate of 0. 8041 manats to 1 U.S. dollar, on June 25 $1.77 million with the average sustained rate of 0. 8041 manats to 1 U.S. dollar and on June 26 no deals were concluded and average sustained rate remained at 8041 manats to 1 U.S. dollar. .

Exchange rate of manat to 1 U.S. dollar

June15

0,8041

June 22

0,8041

June 16

0,8038

June 23

0,8041

June 17

0,8041

June 24

0,8041

June 18

0,8041

June 25

0,8041

June 19

0,8041

June 26

0,8041

Average weekly

0,80404

Average weekly

0,8041

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 of the privatization vouchers remained the same - 10 manats. The drop in prices (the price was 20 manat in early 2009) is attributed to drop in privatization rates.

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