Weekly Review of Azerbaijani Currency Market

Azerbaijan, Baku / corr. Trend I.Khalilova / Last week (30 April - 4 May) the official rate of the manat against the US dollar, set by the National Bank of Azerbaijan, grew by 0.0008 point or 0.08%. The average rate was established at 0.863625 to 1 US dollar.

Last week the maximum rate of US dollar against the manat was established on 7 and 8 May (AZN 0.8640 to 1 US dollar), the minimum on 11 May (0.8632 to US dollar)

As a result of last week's exchange rate of the Azerbaijani manat against the US dollar, established on the basis of results of the Baku Interbank Currency Exchange (BICEX), decreased by 0.0001 point or 0.01%. The average rate was fixed at 0.863325 to 1 US dollar

Last week the maximum rate of US dollar against the manat was established on 8 May (AZN 0.8634 to US $1), the minimum 7, 10 and 11 May (AZN 0.8633 to US $1).

Deals concluded last week at BEST with transition to currency (T+0) comprised $4.362mln with an average sustained exchange rate of 0.8633 AZN/USD on 7 May, $8.87mln with an average sustained rate of 0.8634 AZN/USD on 8 May, no deal was concluded on 9 May, $0.2mln with an average sustained rate of 0.8633 AZN/USD on 10 May and $0.250mln with an average sustained rate of 0.8633 AZN/USD on 11 May.

No deal was concluded with USD/AZN T+1, T+2 and SWAP_USD/AZN due to absence of appeals by dealers. The banks did not make appeals for RUB/AZN and EUR/AZN instruments at BEST.

During this period the price of vouchers was stable and comprised of AZN 13, like the previous week.