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Weekly review of Azerbaijani currency market

Business Materials 20 November 2010 11:31 (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. 79998 manat to 1 U.S. dollar.
Weekly review of Azerbaijani currency market

Azerbaijan, Baku, Nov. 20 / 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. 79998 manat to 1 U.S. dollar.

The maximum rate of the US dollar compared to manat was established on Nov.19 (0.8002  manat to 1 U.S. dollar) and minimum was established on Nov.15,16 and 17 at 0.7999 manat to 1 U.S. dollar. 

Exchange rate of manat to 1 U.S. dollar

Nov.8

0.7999

Nov.15

0.7999

Nov.10

0.8000

Nov.16

0.7999

Nov.11

0.8000

Nov.17

0.7999

Nov.12

0.8001

Nov.18

0.8002

Nov.13

0.7999

Nov.19

0.8000

Average weekly

0.79998

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) decreased by 0.0006 points or 0.06 percent and was 0.79992 to $1.

Deals concluded last week at BEST with transition to currency (T+0) comprised: Nov.15,16 and 17 - no deals were concluded, so the rate remained without change at 0.7989 AZN/USD, Nov.18 - $3,.2 million with exchange rate of 0.7989 AZN/USD and Nov.19 - $7.37 million with exchange rate of 0.7995 AZN/USD.

Exchange rate of manat to 1 U.S. dollar

Nov.8

0.7994

Nov.15

0.7989

Nov.10

0.7994

Nov.16

0.7989

Nov.11

0.7994

Nov.17

0.7989

Nov.12

0.7989

Nov.18

0.7989

Nov.13

0.7989

Nov.19

0.7995

Average weekly

0.7992

Average weekly

0.79902

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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