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Weekly review of Azerbaijan's currency market

Business Materials 22 June 2010 14:16

Azerbaijan, Baku, June 22 / Trend, N.Ismayilova /

Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, decreased by 0.0002 points or 0.02 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 17 and 18 (0.8038 manat to 1 U.S. dollar) and minimum June 16 (0.8036 manats to 1 U.S. dollar).

Exchange rate of manat to 1 U.S. dollar

June 7

0,8037

June 14

0,8037

June 8

0,8036

June 15

0,8037

June 9

0,8038

June 16

0,8036

June 10

0,8038

June 17

0,8038

June 11

0,8037

June 18

0,8038

Average weekly

0,80372

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) decreased by 0.0002 points or 0.02 percent. The average rate was fixed at 0.8038 to 1 U.S. dollar. 

Deals concluded last week at BEST with transition to currency (T+0) comprised: June 14 and June 15-deals were not concluded and the rate remained at the level 0.8038 manats to 1 U.S. dollar, June 16 - $1.09 million with the average sustained rate of 0.8038 manats to 1 U.S. dollar, June 17 - deals were not concluded, but rate was fixed at 0.8037 to 1 U.S. dollar,  June 18 -  deals were not concluded, but rate was fixed at 0.8039 to 1 U.S. dollar

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

June 7

0,8037

June 14

0,8038

June 8

0,8037

June 15

0,8038

June 9

0,8039

June 16

0,8038

June 10

0,8039

June 17

0,8037

June 11

0,8038

June 18

0,8039

Average weekly

0,8038

Average weekly

0,8038

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. Total amount of transactions with value date on the same day, June 16 amounted to 1.899 million euros at the exchange rate of 0.9902 manat on Instrument 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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