Weekly Review of Azerbaijan’s Currency Market

Weekly Review of Azerbaijan’s Currency Market

Azerbaijan, Baku / Trend corr I. Khalilova / Last week (27 - 31 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 0.85272 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 27 August (0.8530 manats to 1 US dollar), the minimum on 29 and 31 August (0.8526 to 1 US dollar).

Official rate of AZN in regard to USD
20August 0,8534 27 August 0,8530
21August 0,8532 ugust 0,8528
22August 0,8531 29 August 0,8526
23August 0,8530 30 August 0,8526
24August 0,8530 31 August 0,8526
Average weekly 0,85314 Average weekly 0,85272

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 0.0007 points or 0.07%. The average rate was fixed at 0.85104 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 31 August (AZN 0.8516 to 1 US dollar), the minimum on 29 August (AZN 0.8507 to 1 US dollar).

Deals concluded last week at BEST with transition to currency (T+0) comprised $5.8mln with an average sustained exchange rate of 0.8509 AZN/USD on 27 August, $8.11mln with an average sustained rate of 0.8508 AZN/USD on 28 August, $2.7mln with an average sustained rate of 0.8507 AZN/USD on 29 August, $5.4mln with an average sustained rate of 0.8512 AZN/USD on 30 August and $2.17mln with the rate of 0.8516 AZN/USD on 31 August.

Official rate of AZN in regard to USD
20August 0,8534 27 August 0,8530
21August 0,8532 ugust 0,8528
22August 0,8531 29 August 0,8526
23August 0,8530 30 August 0,8526
24August 0,8530 31 August 0,8526
Average weekly 0,85314 Average weekly 0,85272
Exchange rate of AZN in regard to USD
20August 0,8519 27 August 0,8509
21August 0,8517 ugust 0,8508
22August 0,8511 29 August 0,8507
23August 0,8510 30 August 0,8512
24August 0,8515 31 August 0,8516
Average weekly 0,85144 Average weekly 0,85104

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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