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Weekly review of Azerbaijani currency market

Business Materials 14 January 2012 10:54 (UTC +04:00)

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Azerbaijan, Baku, Jan 14 /Trend N.Ismayilova/

Last week the official rate of the manat to the US dollar, set by the Central Bank of Azerbaijan (CBA), declined by 0.0001 point (0.01 percent). The average rate was established at 0.78636 manat to 1 U.S. dollar.

Exchange rate of manat to 1 U.S. dollar:

Jan.2

0.7865

Jan.9

0.7864

Jan.3

0.7865

Jan.10

0.7863

Jan.4

0.7865

Jan.11

0.7863

Jan.5

0.7865

Jan.12

0.7864

Jan.6

0.7864

Jan.13

0.7864

An average weekly

0.78648

An average weekly

0.78636

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 point. Last week average exchange rate of manat hit 0.7852 manat to $1.

Deals concluded last week at BEST with transition to currency (T+0) comprised: from Jan 9 - no deals were concluded, therefore, the exchange rate remained unchanged at 0.7857 AZN/USD, Jan 10 -$1.041 million with the exchange rate of 0.7857 AZN/USD, Jan 11 and Jan 12 - no deals were concluded, therefore, the exchange rate remained unchanged at 0.7857 AZN/USD, Jan 13 -$22.99 million with exchange rate at 0.7858 AZN/USD.

Exchange rate of manat to $1

Jan.2

0.7857

Jan.9

0.7857

Jan.3

0.7857

Jan.10

0.7857

Jan.4

0.7857

Jan.11

0.7857

Jan.5

0.7857

Jan.12

0.7857

Jan.6

0.7857

Jan.13

0.7858

Average weekly

0.7857

Average weekly

0.78572

No deal was concluded with USD/AZN T+1 and T+2 due to too few appeals by dealers.

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