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Weekly review of Azerbaijani currency market

Business Materials 30 October 2010 12:13 (UTC +04:00)
Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, consolidated by 0.0004 points or 0.04 percent. The average rate was established at 0.8009 manat to 1 U.S. dollar.
Weekly review of Azerbaijani currency market

Azerbaijan, Baku, Oct. 30 / Trend N.Ismayilova /

Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, consolidated by 0.0004 points or 0.04 percent. The average rate was established at 0.8009 manat to 1 U.S. dollar.

The maximum rate of the US dollar compared to manat was established Oct.27 (0.8011 manat to 1 U.S. dollar) and minimum was established Oct. 29 at 0.8007 manat to 1 U.S. dollar. 

Exchange rate of manat to 1 U.S. dollar

October 18

0,8015

October 25

0,8009

October 19

0,8013

October 26

0,8010

October 20

0,8014

October 27

0,8011

October 21

0,8012

October 28

0,8008

October 22

0,8012

October 29

0,8007

Average weekly

0,80132

Average weekly

0,8009

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 0.0038 (0.38) to 1 U.S. dollar. The average exchange rate was fixed at 0.80122 manat per dollar.

Deals concluded last week at BEST with transition to currency (T+0) comprised: Oct.25 - $1.05 million with exchange rate of 0.8032 AZN/USD, Oct.26 - $0.5 million with exchange rate of 0.8032 AZN/USD, Oct.27- $7.7 million with exchange rate of 0.8006 AZN/USD, Oct.28 - $26.5 million with exchange rate of 0.7997 AZN/USD, Oct.29- $11.7 million with exchange rate of 0.7994 AZN/USD.

Exchange rate of manat to 1 U.S. dollar

October 18

0,8032

October 25

0,8032

October 19

0,8032

October 26

0,8032

October 20

0,8032

October 27

0,8006

October 21

0,8032

October 28

0,7997

October 22

0,8032

October 29

0,7994

Average weekly

0,8032

Average weekly

0,80122

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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