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Weekly review of Azerbaijan's currency market

Business Materials 7 June 2010 10:44 (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 0.80362 manat to 1 U.S. dollar.
Weekly review of Azerbaijan's currency market

Azerbaijan, Baku, June 7 / 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 0.80362 manat to 1 U.S. dollar.

The maximum rate of the US dollar compared to manat was established June 4 (0. 8037 manat to 1 U.S. dollar) and minimum May 31, June 1, June 2, and June 3 (0.8035 manats to 1 U.S. dollar).

Exchange rate of manat to 1 U.S. dollar

May 24

0,8035

May 31

0,8036

May 25

0,8036

June 1

0,8036

May 26

0,8036

June 2

0,8036

May 27

0,8036

June 3

0,8036

May 28

0,8036

June 4

0,8037

Average weekly

0,80358

Average weekly

0,80362

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) remained without changes. The average rate was fixed at 0. 8037 to 1 U.S. dollar. 

Deals concluded last week at BEST with transition to currency (T+0) comprised: May 31 -deals were not concluded and the rate remained at the level 0.8037 manats to 1 U.S. dollar, June 1 - $0.309 million with the average sustained rate of 0.8037 manats to 1 U.S. dollar, June 2 - $12.49 million with the average sustained rate of 0.8037 manats to 1 U.S. dollar, June 3 -  $5.1 million with the average sustained rate of 0.8037 manats to 1 U.S. dollar, and June 4 27- $1.33 million with the average sustained rate of 0.8037 manats to 1 U.S. dollar.

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

May 24

0,8036

May 31

0,8037

May 25

0,8037

June 1

0,8037

May 26

0,8037

June 2

0,8037

May 27

0,8037

June 3

0,8037

May 28

0,8037

June 4

0,8037

Average weekly

0,80368

Average weekly

0,8037

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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