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Weekly review of Azerbaijani currency market

Business Materials 13 November 2010 12:49 (UTC +04:00)
Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, consolidated by 0.0002 points or 0.02 percent. The average rate was established at 0.7998 manat to 1 U.S. dollar.
Weekly review of Azerbaijani currency market

Azerbaijan, Baku, Nov. 13/ Trend N.Ismayilova /

Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, consolidated by 0.0002 points or 0.02 percent. The average rate was established at 0.7998 manat to 1 U.S. dollar.

The maximum rate of the US dollar compared to manat was established Nov.12 (0.8001  manat to 1 U.S. dollar) and minimum was established Nov.8 and 13 at 0.7999 manat to 1 U.S. dollar. 

Exchange rate of manat to 1 U.S. dollar

November 1

0,8005

November 8

0,7999

November 2

0,8005

November 10

0,8000

November 3

0,8003

November 11

0,8000

November 4

0,8000

November 12

0,8001

November 5

0,7997

November 13

0,7999

Average weekly

0,8002

Average weekly

0,79998

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 0.0005 points or 0.05 percent and was 0.7992 to $1.

Deals concluded last week at BEST with transition to currency (T+0) comprised: Nov.8 - $4.8 million with exchange rate of 0.7994 AZN/USD, Nov.9 no deals were concluded, so the rate remained without change at 0.7994 AZN/USD, Nov.10 - $0.89 million with exchange rate of 0.7994 AZN/USD, Nov.11- $10 million with exchange rate of 0.7989 AZN/USD, Nov.12 - $3.5 million with exchange rate of 0.7989 AZN/USD.

Exchange rate of manat to 1 U.S. dollar:

November 1

0,7994

November 8

0,7994

November 2

0,7994

November 10

0,7994

November 3

0,7994

November 11

0,7994

November 4

0,7994

November 12

0,7989

November 5

0,7994

November 13

0,7989

Average weekly

0,7994

Average weekly

0,7992

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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