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Weekly review of Azerbaijan’s currency market

Business Materials 20 July 2009 11:23 (UTC +04:00)

Azerbaijan, Baku, July 20 / Trend , N.Ismayilova/

Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, consolidated by 0.0003 points or 0.03 percent. The average rate was established at 0. 0.80426 manats to 1 U.S. dollar. 

Last week the maximum rate of the US dollar compared to manat was established on July13 (0. 8044 manats to 1 U.S. dollar) and minimum on July 17 (0.8041 manats to 1 U.S. dollar).

Exchange rate of manat to 1 U.S. dollar

July 6

0.8042

July 13

0.8044

July 7

0.8042

July 14

0.8043

July 8

0.8043

July 15

0.8043

July 9

0.8043

July 16

0.8042

July 10  

0.8043

July 17  

0.8041

Average weekly

0.80426

Average weekly

0.80426

As a result of last week's exchange rate of the Azerbaijani manat to the U.S. dollar, established based on results from the Baku Inter-bank Currency Exchange (BICEX), consolidated by 0.008 points (0.8 percent). The average rate was fixed at 0.80378 to 1 U.S. dollar.

Deals concluded last week at BEST with transition to currency (T+0) comprised: On July 13, $1.01 million with the average sustained rate of 0. 8041 manats to 1 U.S. dollar, July 14 $1.89 million with the average sustained rate of 0.8041 manats to 1 U.S. dollar, July 15 $2.38 million with the average sustained rate of 0. 8040 manats to 1 U.S. dollar, on July 16 $6.52 million with the average sustained rate of 0. 8034 manats to 1 U.S. dollar and on July 17 $5.5 million with the average sustained rate of 0. 8033 manats to 1 U.S. dollar.

Exchange rate of manat to 1 U.S. dollar

July 6

0.8028

July 13

0.8041

July 7

0.8040

July 14

0.8041

July 8

0.8040

July 15

0.8040

July 9

0.8040

July 16

0.8034

July 10  

0.8041

July 17  

0.8033

Average weekly

0.80378

Average weekly

0.80378

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 (Ň+1, Ň+2).

Last week the price of the privatization vouchers remained the same - 9 manats, and sale - 10 manats. Price-cut (cost of vouchers exceeded 20 manats early 2009) is explained by reduction of rates of state property privatization, as the State Property Committee is currently undergoing structural transformation. Therefore, investment competitions and voucher auctions have not been conducted for several months and money auctions are announced for August. 

The validity period of the vouchers will expire on Jan. 1 2010.

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