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Weekly review of Azerbaijan's currency market

Business Materials 31 May 2010 13:55 (UTC +04:00)
Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, dropped by 0.0001 points or 0.01 percent. The average rate was established at 0.80358 manat to 1 U.S. dollar.
Weekly review of Azerbaijan's currency market

Azerbaijan, Baku, May 31 / Trend, N.Ismayilova /

Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, dropped by 0.0001 points or 0.01 percent. The average rate was established at 0.80358 manat to 1 U.S. dollar.

The maximum rate of the US dollar compared to manat was established May 25, May 26, May 27 and May 28 (0.8036 manat to 1 U.S. dollar) and and minimum May 24 and 11 (0.8035 manats to 1 U.S. dollar).

Exchange rate of manat to 1 U.S. dollar

May 17

0.8036

May 24

0.8035

May 18

0.8036

May 25

0.8036

May 19

0.8037

May 26

0.8036

May 20

0.8036

May 27

0.8036

May 21

0.8035

May 28

0.8036

Average weekly

0.80356

Average weekly

0.80358

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 point or 0.01 percent. The average rate was fixed at 0. 80368 to 1 U.S. dollar. 

Deals concluded last week at BEST with transition to currency (T+0) comprised: May 24 $1.91 million with the average sustained rate of 0.8036 manats to 1 U.S. dollar, May 25 - $0.187 million with the average sustained rate of 0.8037 manats to 1 U.S. dollar, May 26- $2.764 million with the average sustained rate of 0.8037 manats to 1 U.S. dollar, May 27- $2.088 million with the average sustained rate of 0.8037 manats to 1 U.S. dollar, and May 28 eals were not concluded and the rate remained unchanged (0.8037 AZN/USD),

Exchange rate of manat to 1 U.S. dollar:

May 17

0,8037

May 24

0,8036

May 18

0,8037

May 25

0,8037

May 19

0,8037

May 26

0,8037

May 20

0,8037

May 27

0,8037

May 21

0,8036

May 28

0,8037

Average weekly

0,80368

Average weekly

0,80368

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 9 manat, and sale - 10 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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