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Weekly Review of Azerbaijan’s Currency Market

Business Materials 27 August 2007 18:14 (UTC +04:00)

Azerbaijan, Baku / Trend corr I. Khalilova / Last week (20 - 24 August) the official rate of the manat against the US dollar, set by the National Bank of Azerbaijan rose by 0.0004 points or 0.04%. The average rate was established at 0.85314 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 20 August (0.8534 manats to 1 US dollar), the minimum on 23 and 24 August (0.8530 to 1 US dollar).

Official rate of AZN in regard to USD
13August 0,8537 20August 0,8534
14August 0,8536 21August 0,8532
15August 0,8536 22August 0,8531
16August 0,8535 23August 0,8530
17August 0,8535 24August 0,8530
Average weekly 0,85358 Average weekly 0,85314

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 0.0004 points or 0.04%. The average rate was fixed at 0.85144 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 20 August (AZN 0.8519 to 1 US dollar), the minimum on 23 August (AZN 0.8510 to 1 US dollar).

Deals concluded last week at BEST with transition to currency (T+0) comprised $9.2mln with an average sustained exchange rate of 0.8519 AZN/USD on 20 August, $2.65mln with an average sustained rate of 0.8517 AZN/USD on 21 August, $6.47mln with an average sustained rate of 0.8511 AZN/USD on 22 August, $7.606mln with an average sustained rate of 0.851 AZN/USD on 23 August and $8.2mln with the rate of 0.8515 AZN/USD on the 24 August.

Official rate of AZN in regard to USD
13August 0,8537 20August 0,8534
14August 0,8536 21August 0,8532
15August 0,8536 22August 0,8531
16August 0,8535 23August 0,8530
17August 0,8535 24August 0,8530
Average weekly 0,85358 Average weekly 0,85314
Exchange rate of AZN in regard to USD
13August 0,8523 20August 0,8519
14August 0,8516 21August 0,8517
15August 0,8519 22August 0,8511
16August 0,8518 23August 0,8510
17August 0,8515 24August 0,8515
Average weekly 0,85182 Average weekly 0,85144

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

In this period the price of vouchers increased by AZN 1 compared to the previous week and made up AZN 12. The allocation of privatization vouchers expires on the 1 January 2008.

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