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Weekly review of Azerbaijani currency market

Business Materials 11 December 2010 16:59 (UTC +04:00)

Azerbaijan, Baku, Dec. 11 / Trend N.Ismayilova /

Last week the official rate of the manat to the US dollar, set by the Central Bank of Azerbaijan, consolidated by 0.0005 points or 0.05 percent. The average rate was established at 0. 79926 manat to 1 U.S. dollar.

The maximum rate of the US dollar compared to manat was established on Dec. 6-7 (0,7995  manat to 1 U.S. dollar) and minimum was established on Dec. 9-10 at 0,7990 manat to 1 U.S. dollar. 

Exchange rate of manat to 1 U.S. dollar

Nov. 29

0,8001

Dec. 6

0,7995

Nov. 30

0,8003

Dec. 7

0,7995

Dec. 1

0,8003

Dec. 8

0,7993

Dec. 2

0,8000

Dec. 9

0,7990

Dec. 3

0,7998

Dec. 10

0,7990

Average weekly

0,8001

Average weekly

0,79926

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) was 0,7991 to $1.

Deals concluded last week at BEST with transition to currency (T+0) comprised: Dec. 6,- $0.3 million with exchange rate of 0.7991 AZN/USD, Dec. 7 - $0.55 million with exchange rate of 0.7991 AZN/USD, Dec.8 - $2.24 million with exchange rate of 0.7991  AZN/USD, Dec.9 -$1.95 million with exchange rate of 0.7991 AZN/USD, and Dec.10 - $5.06 million with exchange rate of 0.7991 AZN/USD.

Exchange rate of manat to 1 U.S. dollar

Nov. 29

0,7993

Dec. 6

0,7991

Nov. 30

0,7991

Dec. 7

0,7991

Dec. 1

0,7991

Dec. 8

0,7991

Dec. 2

0,7991

Dec. 9

0,7991

Dec. 3

0,7991

Dec. 10

0,7991

Average weekly

0,79904

Average weekly

0,7991

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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