Weekly Review of Azerbaijan's Currency Market

Business Materials 8 December 2008 16:32 (UTC +04:00)

Azerbaijan, Baku, 8 Dec /corr. Trend I.Khalilova / Azerbaijan, Baku, 8 December / Trend corr I. Khalilova/ Last week the official rate of the manat against the US dollar, set by the National Bank of Azerbaijan, decreased by 0.0002 points or 0.02%. The average rate was established at AZN 0.8091 to 1 US dollar.

Last week the maximum official rate of the US dollar against the manat was established on 2 December (AZN 0.8094 to 1 US dollar) and the minimum on 1 December (AZN 0.8088 to 1 US dollar).  

Official rate of AZN to 1 USD
24 November 0,8089 1 December 0,8088
25 November 0,8079 2 December 0,8094
26 November 0,8074 3 December 0,8091
27 November 0,8079 4 December 0,8092
28 November 0,8079 5 December 0,809
Average weekly 0,808 Average weekly 0,8091

As a result of last week's exchange rate of the Azerbaijani manat against the US dollar, established on the basis of results from the Baku Interbank Currency Exchange (BICEX), rose by 0.0001 points (0.01%). The average rate was fixed at 0.8084 to 1 US dollar.

Last week the maximum exchange rate of the US dollar against the manat was established on 4 December (AZN 0.8085 to 1 US dollar) and minimum on 5 December (AZN 0.8083 to 1 US dollar).

Deals concluded last week at BEST with transition to currency (T+0) comprised: $0.7mln with the average sustained of 0.8084 AZN/USD on 1 December; $2.367mln with the average sustained rate of 0.8084 AZN/USD on 2 December; $2.6mln with the average sustained rate of 0.8084 AZN/USD on 3 December; $3.585mln with the average sustained rate of 0.8085 AZN/USD on 4 December and $2.165mln with the average sustained rate of 0.8083 AZN/USD on 5 December.

Official rate of AZN to 1 USD
24 November 0,8089 1 December 0,8088
25 November 0,8079 2 December 0,8094
26 November 0,8074 3 December 0,8091
27 November 0,8079 4 December 0,8092
28 November 0,8079 5 December 0,809
Average weekly 0,808 Average weekly 0,8091
Exchange rate of AZN to 1 USD
24 November 0,8085 1 December 0,8084
25 November 0,8076 2 December 0,8084
26 November 0,8071 3 December 0,8084
27 November 0,8071 4 December 0,8085
28 November 0,8074 5 December 0,8083
Average weekly 0,80754 Average weekly 0,8084

No deal was concluded with USD/AZN T+1. T+2 and SWAP_USD/AZN due to an absence of appeals by dealers. Appeals were not received on RUB/AZN and EUR/AZN (L‡+1. L‡+2).

AZN 348,806 was fixed on the EUR/AZN T+0 tool on 1 December. The average sustained rate comprised AZN 1,026 per 1 EUR.

Last week the price of the privatization vouchers remained unchanged, amounting to AZN 18.

The validity of the vouchers will expire on 1 January 2010.

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