Weekly review of Azerbaijan's currency market

Azerbaijan, Baku, March 1 / 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 0.80338 manat to 1 U.S. dollar

Last week the maximum rate of the US dollar compared to manat was established Feb.25 (0. 8035 manat to 1 U.S. dollar) and minimum Feb.22-23  (0.8033 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), consolidated by 0,0001 point. The average rate was fixed at 0.80324 to 1 U.S. dollar.

Deals concluded last week at BEST with transition to currency (T+0) comprised: Feb.22, $0,169 million with the average sustained rate of 0.8034 manats to 1 U.S. dollar, Feb.23, $2,731 million with the average sustained rate of 0.8034 manats to 1 U.S. dollar, Feb.24, $3,774 million with the average sustained rate of 0.8035 manats to 1 U.S. dollar, Feb.25, $0,036 million with the average sustained rate of 0.8035 manat to 1 U.S. dollar, and Feb.26, $20.06 million with the average sustained rate of 0.8024 manats to 1 U.S. dollar.

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.

Last week the price of the privatization vouchers stood at the same level, purchase was 8 manat, and sale - 9 manat.

Under the President Ilham Aliyev's decree on additional measures for ensuring the use of the state privatization vouchers, the validity period of the vouchers was prolonged until Jan. 1, 2011. This decision was taken due to the fact that about 80 percent of the check is derived from the circulation.

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