Weekly Review of the Azerbaijan Currency Market

As per last weeks results (8-12 January 2007), the official rate of Azeri manat with regards to the US dollar, set by the National Bank of Azerbaijan, grew by 0 points or 0%. The average rate was established at 0.8714 manat per 1 US dollar, Trend reports

Last week, the maximum rate of the US dollar in respect to the Azeri manat was established and the same rate and made up 0.8714 manats per USD.

As per the last week's results, the exchange rates of the Azerbaijani manat with regards to the US dollar, established on the basis of results of the Baku Interbank Currency Exchange (BICEX) increased 0 points or 0%. The average rate was established at 0.8714 manats per 1 US dollar, Trend reports.

Last week the exchange rate of manat decreased 0 points (0%). The average rate was fixed at 0,8714 manats per US $1.

Deals concluded last week at BEST with the transition to currency (T+0) comprised $,55mln with an average sustained exchange rate of 0.8714 AZN/USD on 8 January, $5,831mln with an average sustained rate of 0.8714 AZN/USD on 9 January, $13.96mln with an average sustained rate of 0.8714 AZN/USD on 10 January, $24.8mln with an average sustained rate of 0.8714 AZN/USD on 11 December, and $14.2mln with average an sustained rate of 0.8714 AZN/USD on 12 January.

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

During this period the prices of vouchers were stable and made up 79,000 old manats (15.8 AZN). Though money auctions on the sale of shares of State-run enterprises have been held since the beginning of the year, the specialized check auctions and investment competitions which mainly use the privatization check have not been held yet.