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Weekly review of Azerbaijan's currency market

Business Materials 5 July 2010 11:11 (UTC +04:00)
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 0.80386 manat to 1 U.S. dollar.
Weekly review of Azerbaijan's currency market

Azerbaijan, Baku, July 5 / 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 0.80386 manat to 1 U.S. dollar.

The maximum rate of the US dollar compared to manat was established June 29-30 and July 1 (0.8039 manat to 1 U.S. dollar) and minimum June 28 and July 2 (0.8038 manats to 1 U.S. dollar).

Exchange rate of manat to 1 U.S. dollar

June 21

0,8038

June 28

0,8038

June 22

0,8039

June 29

0,8039

June 23

0,8039

June 30

0,8039

June 24

0,8038

July 1

0,8039

June 25

0,8038

July 2

0,8038

Average weekly

0,80384

Average weekly

0,80386

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) consolidated by 0.0015 points or 0.15 percent. 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 28 -deals were not concluded and the rate remained at the level 0.8039 manats to 1 U.S. dollar, June 29 - $0.5 million with the average sustained rate of 0.8040manats to 1 U.S. dollar, June 30 - $0.7 million with the average sustained rate of 0,8024 manats to 1 U.S. dollar, July - $33.8 million with the average sustained rate of 0.8024 manats to 1 U.S. dollar and July 2- 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 21

0,8039

June 28

0,8039

June 22

0,8039

June 29

0,8040

June 23

0,8039

June 30

0,8040

June 24

0,8039

July 1

0,8024

June 25

0,8039

July 2

0,8025

Average weekly

0,8039

Average weekly

0,80336

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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