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Weekly review of Azerbaijan's currency market

Business Materials 7 December 2009 17:56 (UTC +04:00)
Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, dropped 0.0002 points or 0.02 percent. The average rate was established at 0.8025 manats to 1 U.S. dollar.
Weekly review of Azerbaijan's currency market

Azerbaijan, Baku, Dec. 7 / Trend N.Ismayilova /

Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, dropped 0.0002 points or 0.02 percent. The average rate was established at 0.8025 manats to 1 U.S. dollar.

Last week the maximum rate of the US dollar compared to manat was established on Dec.4 (0. 8026 manats to 1 U.S. dollar) and minimum on Nov.30 (0.8024 manats to 1 U.S. dollar).

Exchange rate of manat to 1 U.S. dollar

Nov. 23

0.8026

Nov. 30

0.8024

Nov. 24

0.8026

Dec. 1

0.8025

Nov. 25

0.8025

Dec. 2

0.8025

Nov. 26

0.8024

Dec. 3

0.8025

Nov. 27

0.8024

Dec. 4

0.8026

Average weekly

0.8025

Average weekly

0.8025

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), decreased by 0.0015 points (0.15 percent). The average rate was fixed at 0.80234 to 1 U.S. dollar.

Deals concluded last week at BEST with transition to currency (T+0) comprised: Nov.30 there were no deals and the average sustained at a rate of 0. 8012 manats to 1 U.S. dollar, Dec.1, $1,741 million with the average sustained rate of 0. 8026 manats to 1 U.S. dollar, and Dec.2, $2.95 million with the average sustained rate of 0. 8026 manats to 1 U.S. dollar, Dec.3, $1,531 million with the average sustained rate of 0. 8026 manats to 1 U.S. dollar, and Dec.4, $5,471 million with the average sustained rate of 0. 8027 manats to 1 U.S. dollar.

Exchange rate of manat to 1 U.S. dollar

Nov. 23

0.8026

Nov. 30

0.8012

Nov. 24

0.8026

Dec. 1

0.8026

Nov. 25

0.8012

Dec. 2

0.8026

Nov. 26

0.8012

Dec. 3

0.8026

Nov. 27

0.8012

Dec. 4

0.8027

Average weekly

0.80176

Average weekly

0.80234

No deal was concluded with USD/AZN T+1 and T+2 due to an absence of appeals by dealers. Appeals were not received on RUB/AZN and EUR/AZN and BEST.

Last week the price of the privatization vouchers remained the same 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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