Azerbaijan , Baku, Oct. 15 / 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 0.78686 manat to 1 U.S. dollar.
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Exchange rate of manat to 1 U.S. dollar: |
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Oct. 3 |
0,7869 |
Oct. 10 |
0,7869 |
|
Oct. 4 |
0,7869 |
Oct. 11 |
0,7869 |
|
Oct. 5 |
0,7869 |
Oct. 12 |
0,7868 |
|
Oct. 6 |
0,7870 |
Oct. 13 |
0,7868 |
|
Oct. 7 |
0,7869 |
Oct. 14 |
0,7869 |
|
Average weekly |
0,78692 |
Average weekly |
0,78686 |
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. In terms of communication, this mechanism is not only beneficial, as this will allow the CBA to move to the regime of freely floating exchange rate in the long term.
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) hit 0,787 manat to $1.
Deals concluded last week at BEST with transition to currency (T+0) comprised: Oct. 10 - no deals were concluded, the exchange rate remained to the amount of 0.787 AZN/USD, Oct. 11 - $4.691 million with exchange rate of 0.787 AZN/USD, Oct. 12 - no deals were concluded, the exchange rate remained to the amount of 0.787 AZN/USD, Oct. 13 - $1.43 million with exchange rate of 0.787 AZN/USD, Oct. 14 -$0.615 million with exchange rate of 0.787 AZN/USD.
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Exchange rate of manat: |
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|
Oct. 3 |
0,7863 |
Oct.10 |
0,7870 |
|
Oct.4 |
0,7863 |
Oct.11 |
0,7870 |
|
Oct.5 |
0,7869 |
Oct.12 |
0,7870 |
|
Oct.6 |
0,7870 |
Oct.13 |
0,7870 |
|
Oct.7 |
0,7870 |
Oct.14 |
0,7870 |
|
Average weekly |
0,7867 |
Average weekly |
0,7870 |
No deal was concluded with USD/AZN T+1 and T+2 due to too few appeals by dealers.