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Weekly review of Azerbaijan's currency market

Business Materials 29 June 2010 11:44 (UTC +04:00)

Azerbaijan, Baku, June 29 / Trend N.Ismayilova /

Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, consolidated by 0.0001 points or 0.01 percent. The average rate was established at 0.80384 manat to 1 U.S. dollar.

The maximum rate of the US dollar compared to manat was established June 22 and 23 (0.8039 manat to 1 U.S. dollar) and minimum June 21, 24 and 25 (0.8038 manats to 1 U.S. dollar).

Exchange rate of manat to 1 U.S. dollar

June 14

0,8037

June 21

0,8038

June 15

0,8037

June 22

0,8039

June 16

0,8036

June 23

0,8039

June 17

0,8038

June 24

0,8038

June 18

0,8038

June 25

0,8038

Average weekly

0,80372

Average weekly

0,80384

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) did not changed. The average rate was fixed at 0.8039 to 1 U.S. dollar. 

Deals concluded last week at BEST with transition to currency (T+0) comprised: June 21 -deals were not concluded and the rate remained at the level 0.8039 manats to 1 U.S. dollar, June 22 - $1.7 million with the average sustained rate of 0.8039 manats to 1 U.S. dollar, June 23 - $1.2 million with the average sustained rate of 0,8039 manats to 1 U.S. dollar, June 24 and 25 deals were not concluded and the rate remained at the level 0.8039 manats to 1 U.S. dollar.

Exchange rate of manat to 1 U.S. dollar

June 14

0,8038

June 21

0,8039

June 15

0,8038

June 22

0,8039

June 16

0,8038

June 23

0,8039

June 17

0,8037

June 24

0,8039

June 18

0,8039

June 25

0,8039

Average weekly

0,8038

Average weekly

0,8039

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 decreased  and purchase was 7 manat, and sale - 8 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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