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Weekly review of Azerbaijan's currency market

Business Materials 16 November 2009 12:51 (UTC +04:00)

Azerbaijan, Baku, Nov. 16. / Trend N. Ismayilova /

Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, dropped 0.0001 points or 0.01 percent. The average rate was established at 0. 0.80294manats to 1 U.S. dollar.

Last week the maximum rate of the US dollar compared to manat was established on Nov.9 and Nov.13 (0. 8030 manats to 1 U.S. dollar) and minimum on Nov.10 and Nov.12 (0.8029 manats to 1 U.S. dollar).

Exchange rate of manat to 1 U.S. dollar

Nov. 2

0.8033

Nov. 9

0.8030

Nov. 3

0.8033

Nov. 10

0.8029

Nov. 4

0.8034

Nov. 11

0.8029

Nov. 5

0.8032

Nov. 12

0.8029

Nov. 6

0.8031

Nov. 13

0.8030

Average weekly

0.80326

Average weekly

0.80294

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) remained unchanged. The average rate was fixed at 0.8031 to 1 U.S. dollar.

Deals concluded last week at BEST with transition to currency (T+0) comprised: Nov.9, $3.68 million with the average sustained rate of 0. 8031 manats to 1 U.S. dollar, Nov.10, $2,175 million with the average sustained rate of 0. 8031 manats to 1 U.S. dollar, and Nov.11 there was no deals and the average rate was 0. 8031 manats to 1 U.S. dollar, on Nov.12, $3.78 million with the average sustained rate of 0. 8031 manats to 1 U.S. dollar, and on Nov.13, $0.075 million with the average sustained rate of 0. 8031 manats to 1 U.S. dollar.

Exchange rate of manat to 1 U.S. dollar

Nov. 2

0.8033

Nov. 9

0.8031

Nov. 3

0.8034

Nov. 10

0.8031

Nov. 4

0.8035

Nov. 11

0.8031

Nov. 5

0.8033

Nov. 12

0.8031

Nov. 6

0.8032

Nov. 13

0.8031

Average weekly

0.80334

Average weekly

0.8031

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 unchanged and purchase was 8 manats, and sale - 9 manats. The validity period of the vouchers will expire on Jan. 1 2010. So far, around 75 percent of vouchers has been derived, and another extension of their validity period remains uncertain.

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