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Weekly Review of the Azerbaijani Currency Market (October 30 - November 3)

Business Materials 6 November 2006 14:51 (UTC +04:00)

As per last weeks results, the official rate of manat in regards to the US dollar, set by the National Bank of Azerbaijan, grew by 0,0002 points or 0.02%. The average rate was established at 0.8732 manats per 1 US dollar, Trend reports

Last week, the maximum rate of the US dollar in respect to the manat was established on October 30 and 31 (0.8733 manats per 1 US dollar), minimum November 2 and 3 (0.8731) manats per US dollar).

Official rate of AZN in regard to USD

23 October

-

30 October

0,8733

24 October

-

31 October

0,8733

25 October

0,8734

1 November

0,8732

26 October

0,8734

2 November

0,8731

27 October

0,8735

3 November

0,8731

Average Weekly

0,87343

Average Weekly

0,8732


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 0,0005 points or 0.05%. Average rate was fixed as 0.8723 manats per US dollar.

Last week, the maximum rate of the US dollar in respect to the manat was established on November 3 (0.8728 manats per 1 US dollar), minimum October 31 and November 1 (0.8722 manats per US dollar).

Deals concluded last week at BEST with transition to currency (T+0) comprised $47.7mln with average sustained exchange rate of 0.8723 AZN/USD on October 30, $8.59mln with average sustained rate of 0.8722 AZN/USD on October 31, $0.11mln with average sustained rate of 0.8722 AZN/USD on November 1, $0.8mln with the average sustained rate of 0,8724 AZN/USD on November 2, and $28.15mln with the average sustained rate of 0,8728 AZN/USD on November 3.

Exchange rate of AZN in regard to USD

23 October

-

30 October

0,8723

24 October

-

31 October

0,8722

25 October

0,8722

1 November

0,8722

26 October

0,8719

2 November

0,8724

27 October

0,8725

3 November

0,8728

Average Weekly

0,8722

Average Weekly

0,87238


Due to the absence of appeals, no deal was concluded with Russian rouble and Euros last week.

However, an only deal was concluded on EUR/AZN T+0 instrument in the amount of 22,272 AZN on November 3. The average sustained rate was 1,1136 AZN per 1 EUR.

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

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