Weekly review of Azerbaijani currency market

Azerbaijan, Baku, March 19 / Trend N.Ismayilova /

Last week the official rate of the manat to the US dollar, set by the Central Bank of Azerbaijan, consolidated by 0.000 1 points (0.0 1 percent). The average rate was established at 0,79326 manat to 1 U.S. dollar.

Exchange rate of manat to 1 U.S. dollar
March 7	0,7938	March14	0,7933
March8	0,7938	March15	0,7933
March9	0,7936	March16	0,7933
March10	0,7936	March17	0,7932
March 11	0,7933	March18	0,7932
Average weekly	0,79362	Average weekly	0,79326

After the Central Bank shifted to bilateral targeting of the dollar/manat from Jan. 10, 2011, exchange rate of the national has stabilized. Macroeconomic analysis showed that bilateral targeting of dollar/manat corresponds with the objectives of the Central Bank, particularly in influencing the inflation rate.

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 0.00 12 point or 0. 12 percent at 0,79226 to $1.

Deals concluded last week at BEST with transition to currency (T+0) comprised: March 14 - $ 0.36 million with exchange rate of 0.79 22 AZN/USD, March 15 - $ 6.85 million with exchange rate of 0.79 19 AZN/USD, March 16 -$33,686 million with exchange rate of 0.79 20 AZN/USD, March 17 - $ 1.5 million with exchange rate of 0.7932 AZN/USD, and March 18 - $12,725 million with exchange rate of 0.792 0 AZN/USD.

Exchange rate of manat to 1 U.S. dollar:
March7	0,7924	March14	0,7922
March8	0,7924	March15	0,7919
March9	0,7924	March16	0,7920
March10	0,7922	March17	0,7932
March11	0,7922	March18	0,7920
Average weekly	0,79232	Average weekly	0,79226

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.

Weekly review of Azerbaijani currency market

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