Weekly review of Azerbaijani currency market

Business Materials 2 April 2011 15:29 (UTC +04:00)

Last week the official rate of the manat to the US dollar, set by the Central Bank of Azerbaijan, consolidated by 0.0006 points (0.06 percent). The average rate was established at 0.79282 manat to 1 U.S. dollar.

Azerbaijan , Baku, April 2 / Trend , N.Ismayilova/

Last week the official rate of the manat to the US dollar, set by the ~~Central Bank of Azerbaijan~~ , consolidated by 0.0006 points (0.06 percent). The average rate was established at 0.79282 manat to 1 U.S. dollar.

Exchange rate of manat to 1 U.S. dollar
14 March	0,7933	28 March	0,7932
15 March	0,7933	29 March	0,7929
16 March	0,7933	30 March	0,7927
17 March	0,7932	31 March	0,7927
18 March	0,7932	April 1	0,7926
Average weekly	0,79326	Average weekly	0,79282

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, the rate of the Azerbaijani manat to the U.S. dollar, established based on results from the ~~Baku Inter-bank Currency Exchange~~ (BICEX) rose by 0.0007 point or 0.07 percent at 0.79158 to $1.

Deals concluded last week at BEST with transition to currency (T+0) comprised: March 28 - deals were not concluded and therefore, the rate remained at 0.7920 AZN/USD, March 29 - $2.58 million with exchange rate of 0.7920 AZN/USD, March 30 - $11.17 million with exchange rate of 0.7913 AZN/USD, March 31 -$2,24 million with exchange rate of 0.7913 AZN/USD, April 1 - $1.1 million with exchange rate of 0.7913 AZN/USD.

Exchange rate of manat to 1 U.S. dollar:
14 March	0,7922	28 March	0,7920
15 March	0,7919	29 March	0,7920
16 March	0,7920	30 March	0,7913
17 March	0,7932	31 March	0,7913
18 March	0,7920	1 April	0,7913
Average weekly	0,79226	Average weekly	0,79158

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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