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Weekly review of Azerbaijani currency market

Business Materials 9 October 2010 13:35 (UTC +04:00)
Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, consolidated by 0.0003 points or 0.03 percent. The average rate was established at 0.80224 manat to 1 U.S. dollar.

Azerbaijan, Baku, Oct. 9 / Trend N.Ismayilova /

Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, consolidated by 0.0003 points or 0.03 percent. The average rate was established at 0.80224 manat to 1 U.S. dollar.

The maximum rate of the US dollar compared to manat was established Oct. 4 and 5 (0.8024 manat to 1 U.S. dollar) and minimum was established Oct.7 and 8 at 0.8021 manat to 1 U.S. dollar.

Exchange rate of manat to 1 U.S. dollar

Sept.27

0,8029

Oct.4

0,8024

Sept.28

0,8029

Oct.5

0,8024

Sept.29

0,8027

Oct.6

0,8022

Sept.30

0,8027

Oct.7

0,8021

Oct.1

0,8026

Oct.8

0,8021

Average weekly

0,80276

Average weekly

0,80224

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) remained unchanged at 0.8032 to 1 U.S. dollar. 

Deals concluded last week at BEST with transition to currency (T+0) comprised: Oct. 4 - $2 million with exchange rate of 0.8032 AZN/USD, Oct.5, no deals were concluded, so the rate remained unchanged at the same level of 0.8032 AZN/USD. Oct.6 - $0.4 million with exchange rate of 0.8032 AZN/USD, Oct.7 - $2.55 million with exchange rate of 0.8032 AZN/USD, Oct.8 - no deals were concluded. So, the rate remained at the same level of 0.8032 AZN/USD.

Exchange rate of manat to 1 U.S. dollar

Sept.27

0,8032

Oct.4

0,8032

Sept.28

0,8032

Oct.5

0,8032

Sept.29

0,8032

Oct.6

0,8032

Sept.30

0,8032

Oct.7

0,8032

Oct.1

0,8032

Oct.8

0,8032

Average weekly

0,8032

Average weekly

0,8032

No deal was concluded with USD/AZN T+1 and T+2 due to too few appeals by dealers. Appeals were not received on RUB/AZN and EUR/AZN.

Last week, the price on privatization vouchers remained without changes, with purchases was running for five manat and sales for six manat. President Ilham Aliyev's decree on additional measures to ensure the use of  state privatization vouchers prolonged the validity period until Jan. 1, 2011. This decision was made as roughly 80 percent of the vouchers were still in circulation.

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