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Weekly review of Azerbaijan's currency market

Business Materials 16 August 2010 10:35 (UTC +04:00)

Azerbaijan, Baku, August 16 / Trend, N.Ismayilova /

Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, decreased by 0.0003 points or 0.03 percent. The average rate was established at 0.80356manat to 1 U.S. dollar.

The maximum rate of the US dollar compared to manat was established Aug. 12 and 13 (0.8037 manat  to 1 U.S. dollar) and minimum was established Aug. 9 at 0.8034 manat to 1 U.S. dollar.

Exchange rate of manat to 1 U.S. dollar

August 2

0,8034

August 9

0,8034

August 3

0,8034

August 10

0,8035

August 4

0,8033

August 11

0,8035

August 5

0,8034

August 12

0,8037

August 6

0,8034

August 13

0,8037

Average weekly

0,80338

Average weekly

0,80356

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 0.0014 points or 0.14  percent. The average rate was fixed at 0. 80316 to 1 U.S. dollar. 

Deals concluded last week at BEST with transition to currency (T+0) comprised: Aug.9 - $2 million with the average sustained rate of 0.8024 manats to 1 U.S. dollar, Aug.10 deals were not concluded and the rate remained at the level 0.8024 manats to 1 U.S. dollar, Aug. 11 - $2.285 million with the average sustained rate of 0.8036 manats to 1 U.S. dollar, Aug. 12 - deals were not concluded and the rate remained at the level 0.8036 manats to 1 U.S. dollar, and Aug.13 -  $1.792 million with the average sustained rate of 0.8038 manats to 1 U.S. dollar

Exchange rate of manat to 1 U.S. dollar

August 2

0,8035

August 9

0,8024

August 3

0,8035

August 10

0,8024

August 4

0,8035

August 11

0,8036

August 5

0,8024

August 12

0,8036

August 6

0,8024

August 13

0,8038

Average weekly

0,80306

Average weekly

0,80316

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 remained without changes, so purchase was 5 manat, and sale - 6 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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