Weekly review of Azerbaijan's currency market

Azerbaijan, Baku, Aug. 23 / Trend N.Ismayilova /

Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, remained unchanged. The average rate was established at 0.8038 manat to 1 U.S. dollar.

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 0.0004 points or 0. 04  percent. The average rate was fixed at 0. 80372 to 1 U.S. dollar. 

Deals concluded last week at BEST with transition to currency (T+0) comprised: Aug.16 - deals were not concluded and the rate remained at the level of 0.8038 manats to 1 U.S. dollar, Aug.17 -  $6.8 million with the average sustained rate of 0.8035 manats to 1 U.S. dollar, Aug. 18 - deals were not concluded and the rate remained at the level of 0.8035 manats to 1 U.S. dollar, Aug. 19 - $2,929 million with the average sustained rate of 0.8039 manats to 1 U.S. dollar, and Aug.20 deals were not concluded and the rate remained at the level of 0.8039 manats to 1 U.S. dollar

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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