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Weekly review of Azerbaijan’s currency market

Business Materials 27 July 2009 11:47 (UTC +04:00)
Weekly review of Azerbaijan’s currency market

Azerbaijan, Baku, July 27 / Trend , N.Ismayilova/

Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, dropped by 0.0001 points or 0.01 percent. The average rate was established at 0. 0.80414 manats to 1 U.S. dollar. 

Last week the maximum rate of the US dollar compared to manat was established on July 22 and 24 (0. 8042 manats to 1 U.S. dollar) and minimum on July 20, 21 and 23 (0.8041 manats to 1 U.S. dollar).

Exchange rate of manat to 1 U.S. dollar

July 13

0.8044

July 20

0.8041

July 14

0.8043

July 21

0.8041

July 15

0,8043

July 22

0.8042

July 16

0.8042

July 23

0.8041

July 17

0.8041

July 24

0.8042

Average weekly

0.80426

Average weekly

0.80414

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), dropped by 0.007 points (0.7 percent). The average rate was fixed at 0.80316 to 1 U.S. dollar.

Deals concluded last week at BEST with transition to currency (T+0) comprised: On July 20, $6.75 million with the average sustained rate of 0. 8026 manats to 1 U.S. dollar, July 21 $9.45 million with the average sustained rate of 0.8033 manats to 1 U.S. dollar, July 22 $0.485 million with the average sustained rate of 0. 8033 manats to 1 U.S. dollar, on July 23 $1.48 million with the average sustained rate of 0. 8033 manats to 1 U.S. dollar and on July 24 $3.9 million with the average sustained rate of 0. 8033 manats to 1 U.S. dollar.

Exchange rate of manat to 1 U.S. dollar

July 13

0.8041

July 20

0.8026

July 14

0.8041

July 21

0.8033

July 15

0.8040

July 22

0.8033

July 16

0.8034

July 23

0.8033

July 17

0.8033

July 24

0.8033

Average weekly

0.80378

Average weekly

0.80316

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 - 9 manats, and sale - 10 manats. Price-cut (cost of vouchers exceeded 20 manats early 2009) is explained by reduction of rates of state property privatization.

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

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