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Weekly review of Azerbaijan's currency market

Business Materials 2 November 2009 11:53 (UTC +04:00)
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. 0.80324 manats to 1 U.S. dollar.
Weekly review of Azerbaijan's currency market

Azerbaijan, Baku, Nov. 2 / 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. 0.80324 manats to 1 U.S. dollar.

Last week the maximum rate of the US dollar compared to manat was established on Oct. 29 (0. 8034 manats to 1 U.S. dollar) and minimum on Oct. 26 (0.8031 manats to 1 U.S. dollar).

Exchange rate of manat to 1 U.S. dollar

Oct. 19

0.8030

Oct. 26

0.8031

Oct. 20

0.8029

Oct. 27

0.8032

Oct. 21

0.8031

Oct. 28

0.8033

Oct. 22

0.8031

Oct. 29

0.8034

Oct. 23

0.8031

Oct. 30

0.8032

Average weekly

0.80304

Average weekly

0.80324

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 0.8033 to 1 U.S. dollar.

Deals concluded last week at BEST with transition to currency (T+0) comprised: Oct. 26, $0.845 million with the average sustained rate of 0. 8033 manats to 1 U.S. dollar, Oct. 27, $4.335 million with the average sustained rate of 0. 8030 manats to 1 U.S. dollar, and Oct. 28, $0.08 million with the average sustained rate of 0. 8034 manats to 1 U.S. dollar, on Oct. 29, $0.795 million with the average sustained rate of 0. 8035 manats to 1 U.S. dollar, and on Oct. 30, $0.045 million with the average sustained rate of 0. 8033 manats to 1 U.S. dollar.

Exchange rate of manat to 1 U.S. dollar

Oct. 19

0.8033

Oct. 26

0.8033

Oct. 20

0.8033

Oct. 27

0.8030

Oct. 21

0.8034

Oct. 28

0.8034

Oct. 22

0.8033

Oct. 29

0.8035

Oct. 23

0.8034

Oct. 30

0.8033

Average weekly

0.80334

Average weekly

0.8033

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 consolidated one manat, purchase was 8 manats, and sale - 9 manats. Price rise in vouchers is explained by activation of rates of state property privatization through investment competitions. Earlier, the prices were low, as the State Property Committee currently underwent structural transformation.

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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