Weekly review of Azerbaijan’s currency market

Azerbaijan, Baku, Sept. 28 / Trend , N.Ismayilova/

Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, dropped 0.0001 points or 0.01 percent. The average rate was established at 0. 0.80332 manats to 1 U.S. dollar. 

Last week the maximum rate of the US dollar compared to manat was established on Sept. 24 and 25 (0. 8034 manats to 1 U.S. dollar) and minimum on Sept. 23 (0.8032 manats to 1 U.S. dollar).

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 0.0001 points (0.01 percent). The average rate was fixed at 0.80294 to 1 U.S. dollar.

Deals concluded last week at BEST with transition to currency (T+0) comprised: Sept. 21-23. no deals were concluded and the average sustained rate was 0. 8029 manats to 1 U.S., Sept. 24, $3.29 million with the average sustained rate of 0. 8030 manats to 1 U.S., and Sept. 25, $0.27 million with the average sustained rate of 0. 8030 manats to 1 U.S. dollar.

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 decreased one manat and purchase was 8 manats, and sale - 9 manats.

The validity period of the vouchers will expire on Jan. 1 2010. So far, around 75 percent of vouchers has been derived, and another extension of their validity period remains uncertain.

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