Weekly review of Azerbaijan's currency market

Weekly review of Azerbaijan's currency market

Azerbaijan, Baku, Nov. 9 / Trend , N.Ismayilova/

Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, consolidated 0.0003 points or 0.03 percent. The average rate was established at 0. 0.80326 manats to 1 U.S. dollar.

Last week the maximum rate of the US dollar compared to manat was established on Nov. 4 (0. 8034 manats to 1 U.S. dollar) and minimum on Nov. 6 (0.8031 manats to 1 U.S. dollar).

Exchange rate of manat to 1 U.S. dollar

Oct. 26

0.8031

Nov. 2

0.8033

Oct. 27

0.8032

Nov. 3

0.8033

Oct. 28

0.8033

Nov. 4

0.8034

Oct. 29

0.8034

Nov. 5

0.8032

Oct. 30

0.8032

Nov. 6

0.8031

Average weekly

0.80324

Average weekly

0.80326

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 0.8034 to 1 U.S. dollar.

Deals concluded last week at BEST with transition to currency (T+0) comprised: Nov. 2, $0.615 million with the average sustained rate of 0. 8033 manats to 1 U.S. dollar, Nov. 3, $7.69 million with the average sustained rate of 0.8034 manats to 1 U.S. dollar, and Nov. 4, $6.15 million with the average sustained rate of 0. 8035 manats to 1 U.S. dollar, on Nov. 5, $3.425 million with the average sustained rate of 0. 8033 manats to 1 U.S. dollar, and on Nov. 6, $9.12 million with the average sustained rate of 0. 8032 manats to 1 U.S. dollar.

Exchange rate of manat to 1 U.S. dollar

Oct. 26

0.8033

Nov. 2

0.8033

Oct. 27

0.8030

Nov. 3

0.8034

Oct. 28

0.8034

Nov. 4

0.8035

Oct. 29

0.8035

Nov. 5

0.8033

Oct. 30

0.8033

Nov. 6

0.8032

Average weekly

0.8033

Average weekly

0.80334

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, 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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