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Weekly review of Azerbaijani currency market

Business Materials 3 September 2011 15:02 (UTC +04:00)

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Azerbaijan , Baku, Sept. 3 / Trend N.Ismayilova /

Last week the official rate of the manat to the US dollar, set by the Central Bank of Azerbaijan (CBA), decreased by 0.0001 points (0.01 percent). The average rate was established at 0.78652 manat to 1 U.S. dollar.

Exchange rate of manat to 1 U.S. dollar

Aug.22

0.7863

Aug.27

0.7865

Aug.23

0.7863

Aug.30

0.7865

Aug.24

0.7864

Aug.31

0.7865

Aug.25

0.7865

Sept.1

0.7865

Aug.26

0.7865

Sept.2

0.7866

Average weekly

0.7864

Average weekly

0.78652

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), decreased by 0.0001 points (0.01 percent). The average rate was established at 0.78624 manat to 1 U.S. dollar.

Deals concluded last week at BEST with transition to currency (T+0) comprised: Aug. 27- $1.825 million with exchange rate of 0.7862 AZN/USD, Aug.30-31 - no deals concluded, the exchange rate kept at 0.7862 AZN/USD, Sept.1 - $5.475 million with exchange rate of 0.7863 AZN/USD and Sept.2- $4.347 million with exchange rate of 0.7863 AZN/USD .

Exchange rate of manat to 1 U.S. dollar

Aug.22

0.7862

Aug.27

0.7862

Aug.23

0.7862

Aug.30

0.7862

Aug.24

0.7862

Aug.31

0.7862

Aug.25

0.7862

Sept.1

0.7863

Aug.26

0.7862

Sept.2

0.7863

Average weekly

0.7862

Average weekly

0.78624

No deal was concluded with USD/AZN T+1 and T+2 due to too few appeals by dealers. On appeals on RUB/AZN and EUR/AZN, there was recorded one deal at 3,397,200 manat or 3million euros at the rate of 1.1324 manat for one euro .

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