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Weekly Review of Azerbaijani Currency Market

Business Materials 19 March 2007 12:31

Azerbaijan, Baku /corr Trend I.Khalilova / Last week (March 12th to 16th) the official rate of the manat against US dollar, set by the National Bank of Azerbaijan grew by 0,0003 point or 0.03%. The average rate was established as 0.86774 to 1 US dollar.

Last week the maximum rate of US dollar against manat was established on March 12th and 13th (0,8679 manats to 1 US dollar), minimum - on February 15th and 16th (0.8676 to US dollar).

Official rate of AZN in regard to USD
5 March 0,8685 12 March 0,8679
6 March 0,8684 13 March 0,8679
7 March 0,8682 14 March 0,8677
8 March - 15 March 0,8676
9 March 0,8682 16 March 0,8676
Average weekly 0,868325 Average weekly 0,86774

As a result of last week's exchange rate of Azerbaijani manat against US dollar, established on the basis of results of the Baku Interbank Currency Exchange (BICEX), increased by 0,0004 point or 0.04%. The average rate was fixed at 0.86768 to 1 US dollar

Last week the maximum rate of US dollar against the manat was established on March 12th and 13th (0,8679 manats to 1 US dollar), minimum - March 15th (0.8674 manats to 1 US dollar

Deals concluded last week at BEST with transition to currency (T+0) comprised $1,650mln with an average sustained exchange rate of 0,8679 AZN/USD on March 12th, $2,610mln with an average sustained rate of 0,8679 AZN/USD on March 13th, $1,830mln with an average sustained rate of 0,8677 AZN/USD on March 14th, $8,080mln with an average sustained rate of 0,8674 AZN/USD on March 15th and $1,880mln with an average sustained rate of 0,8675 AZN/USD on March 15th`

Official rate of AZN in regard to USD
5 March 0,8685 12 March 0,8679
6 March 0,8684 13 March 0,8679
7 March 0,8682 14 March 0,8677
8 March - 15 March 0,8676
9 March 0,8682 16 March 0,8676
Average weekly 0,868325 Average weekly 0,86774
Exchange rate of AZN in regard to USD
5 March 0,8685 12 March 0,8679
6 March 0,8684 13 March 0,8679
7 March 0,8682 14 March 0,8677
8 March - 15 March 0,8674
9 March 0,8682 16 March 0,8675
Average weekly 0,868325 Average weekly 0,86768

A deal with EUR/AZN T+1 tool was concluded on 16 March with the amount of 12, 731 manats. The average sustained rate constituted 1,1574 manats per 1 EUR.

No deal was concluded with the tools of USD/AZN T+1, T+2 and SWAP_USD/AZN last week due to absence of appeals. The banks did not apply for tools of RUB/AZN and EUR/AZN T+0 at BEST.

In this period the price of vouchers remained unchanged - 15.5 manats.

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