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Weekly review of Azerbaijan's currency market

Business Materials 14 June 2010 11:19 (UTC +04:00)
Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, rose by 0.0001 points or 0.01 percent. The average rate was established at 0.80372 manat to 1 U.S. dollar.
Weekly review of Azerbaijan's currency market

Azerbaijan, Baku, June 14 / Trend, N.Ismayilova /

Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, rose by 0.0001 points or 0.01 percent. The average rate was established at 0.80372 manat to 1 U.S. dollar.

The maximum rate of the US dollar compared to manat was established June 9 and 10 (0.8038 manat to 1 U.S. dollar) and minimum June 8 (0.8036 manats to 1 U.S. dollar).

Exchange rate of manat to 1 U.S. dollar

31 May

0,8036

7 June

0,8037

1 June

0,8036

8 June

0,8036

2 June

0,8036

9 June

0,8038

3 June

0,8036

10 June

0,8038

4 June

0,8037

11 June

0,8037

Average weekly

0,80362

Average weekly

0,80372

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) rose 0.0001 points or 0.01 percent. 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: June 7 -deals were not concluded and the rate remained at the level 0.8037 manats to 1 U.S. dollar, June 8 - $4.1 million with the average sustained rate of 0.8037 manats to 1 U.S. dollar, June 9 - $1.73 million with the average sustained rate of 0,8039 manats to 1 U.S. dollar, June 10 -  $1.9 million with the average sustained rate of 0.8039 manats to 1 U.S. dollar, and June 11 - $1.509 million with the average sustained rate of 0.8038 manats to 1 U.S. dollar.

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

31 May

0,8037

7 June

0,8037

1 June

0,8037

8 June

0,8037

2 June

0,8037

9 June

0,8039

3 June

0,8037

10 June

0,8039

4 June

0,8037

11 June

0,8038

Average weekly

0,8037

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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