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Weekly Review of Azerbaijan’s Currency Market

Business Materials 10 September 2007 12:47 (UTC +04:00)
Weekly Review of Azerbaijan’s Currency Market

Azerbaijan, Baku / Trend corr I. Khalilova / Last week (3 -7 September) the official rate of the manat against the US dollar, set by the National Bank of Azerbaijan rose by 0.0003 points or 0.03%. The average rate was established at 0.85234 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 3 September (0.8525 manats to 1 US dollar), the minimum on 7 September (0.8522 to 1 US dollar).

Official rate of AZN in regard to USD
27 August 0,8530 3 September 0,8525
28 August 0,8528 4 September 0,8524
29 August 0,8526 5 September 0,8523
30 August 0,8526 6 September 0,8523
31 August 0,8526 7 September 0,8522
Average weekly 0,85272 Average weekly 0,85234

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 0.85196 to 1 US dollar.

Last week the maximum rate of the US dollar against the manat was established on 5-6 September (AZN 0.8523 to 1 US dollar), the minimum on 3-4 September (AZN 0.8516 to 1 US dollar).

Deals concluded last week at BEST with transition to currency (T+0) comprised $0.0 with an average sustained exchange rate of 0.8516 AZN/USD on 3 September, $3.44mln with an average sustained rate of 0.8516 AZN/USD on 4 September, $11.37mln with an average sustained rate of 0.8523 AZN/USD on 5 September, $2.25mln with an average sustained rate of 0.8523 AZN/USD on 6 September and $6.33mln with the rate of 0.8520 AZN/USD on 7 September.

Official rate of AZN in regard to USD
27 August 0,8530 3 September 0,8525
28 August 0,8528 4 September 0,8524
29 August 0,8526 5 September 0,8523
30 August 0,8526 6 September 0,8523
31 August 0,8526 7 September 0,8522
Average weekly 0,85272 Average weekly 0,85234
Exchange rate of AZN in regard to USD
27 August 0,8509 3 September 0,8516
29 August 0,8508 4 September 0,8516
29 August 0,8507 5 September 0,8523
30 August 0,8512 6 September 0,8523
31 August 0,8516 7 September 0,8520
Average weekly 0,85104 Average weekly 0,85196

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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