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Weekly Review of the Azerbaijani Currency Market

Business Materials 25 October 2006 11:25 (UTC +04:00)

As per results last week, the official rate of manat with regards to the US dollar, set by the National Bank of Azerbaijan, grew by 0,0006 points or 0.06%. The average rate was established as 0.8738 manats per 1 US dollar, Trend reports.

Last week, the maximum rate of the US dollar with respect to the manat was established on 16 October (0.8742 manats per 1 US dollar), minimum October 19 and 20 (0.8736) manats per US dollar).

Official rate of AZN in regard to USD

9 October

0,8749

16 October

0,8742

10 October

0,8747

17 October

0,8738

11 October

0,8746

18 October

-

12 October

0,8743

19 October

0,8736

13 October

0,8743

20 October

0,8736

Average Weekly

0,87456

Average Weekly

0,8738

As per the last week results, exchange rates of the Azerbaijani manat with regards to the US dollar, established on the base of results of the Baku Interbank Currency Exchange (BICEX) increased by 0,0008 points or 0.08%. Average rate was fixed as 0.872475 manats per US dollar.

Last week, the maximum rate of the US dollar in respect to the manat was established on October 16 (0.8730 manats per 1 US dollar), minimum October 19 (0.8721 manats per US dollar).

Deals concluded last week at BEST with transition to currency (T+0) comprised $6,265mln with average sustained exchange rate of 0.8730 AZN/USD on October 16, $6.7mln with average sustained rate of 0.8726 AZN/USD on October 17, $3,630mln with average sustained rate of 0.8721 AZN/USD on October 19, $5,755mln with average sustained rate of 0.8722 AZN/USD on October 20.

Exchange rate of AZN in regard to USD

9 October

0,8739

16 October

0,8730

10 October

0,8734

17 October

0,8726

11 October

0,8734

18 October

-

12 October

0,8734

19 October

0,8721

13 October

0,8742

20 October

0,8722

Average Weekly

0,87366

Average Weekly

0,872475

Due to the absence of appeals, no deal was concluded with Russian ruble and Euros last week. An only deal was concluded on USD/AZN T+1 instrument on 16 October with the amount of 78,795 AZN. The average sustained rate of 0,8755 AZN per 1 USD.

During this period the prices of vouchers were stable and made up 80,000 old manats (16 AZN).

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