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Weekly review of Azerbaijani currency market

Business Materials 4 December 2010 12:08 (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 0.8001 manat to 1 U.S. dollar.
Weekly review of Azerbaijani currency market

Azerbaijan, Baku, Dec.4 / 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 0.8001 manat to 1 U.S. dollar.

The maximum rate of the US dollar compared to manat was established on Nov.30 and Dec.1 (0.8003 manat to 1 U.S. dollar) and minimum was established on Dec.3 at 0.7998 manat to 1 U.S. dollar. 

Exchange rate of manat to 1 U.S. dollar

November 22

0,7997

November 29

0,8001

November 23

0,7999

November 30

0,8003

November 24

0,7999

December 1

0,8003

November 25

0,8000

December 2

0,8000

November 26

0,8000

December 3

0,7998

Average weekly

0,7999

Average weekly

0,8001

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 0.0002 points or 0.02 percent and was 0.79914  to $1.

Deals concluded last week at BEST with transition to currency (T+0) comprised: Nov.29,- $17.45 million with exchange rate of 0.7993 AZN/USD, Nov.30 - $55.58 million with exchange rate of 0.7991 AZN/USD, Dec.1 - $1.42 million with exchange rate of 0.7991  AZN/USD, Dec.2 -$1.16 million with exchange rate of 0.7991 AZN/USD, and Dec.3 - $5.06 million with exchange rate of 0.7991 AZN/USD.

Exchange rate of manat to 1 U.S. dollar

November 22

0,7985

November 29

0,7993

November 23

0,7993

November 30

0,7991

November 24

0,7995

December 1

0,7991

November 25

0,7985

December 2

0,7991

November 26

0,7994

December 3

0,7991

Average weekly

0,79904

Average weekly

0,79914

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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