Weekly review of Azerbaijani currency market per week

Azerbaijan , Baku, April 9 /Trend , N.Ismayilova/

Last week the official rate of the manat to the US dollar, set by the Central Bank of Azerbaijan , consolidated by 0.000 3 points (0.0 3 percent). The average rate was established at 0.792 44 manat to 1 U.S. dollar.

Exchange rate of manat to 1 U.S. dollar
March 28	0,7932	April4	0,7926
March29	0,7929	April5	0,7926
March30	0,7927	April6	0,7924
March31	0,7927	April7	0,7923
April 1	0,7926	April8	0,7923
Average weekly	0,79282	Average weekly	0,79244

After the Central Bank shifted to bilateral targeting of the dollar/manat from Jan. 10, 2011, exchange rate of the national has stabilized. Macroeconomic analysis showed that bilateral targeting of dollar/manat corresponds with the objectives of the Central Bank, particularly in influencing the inflation rate.

As a result of last week's exchange, the rate of the Azerbaijani manat to the U.S. dollar, established based on results from the Baku Inter-bank Currency Exchange (BICEX) remained unchanged at 0.791 3 to $1.

Deals concluded last week at BEST with transition to currency (T+0) comprised: April 4 - $2.5 6 million with exchange rate of 0.79 13 AZN/USD , April 5 - $3,835 million with exchange rate of 0.79 13 AZN/USD, April 6 - no deals were concluded, the exchange rate remained at the same level 0.7913 AZN/USD, April 7 -$2,146 million with exchange rate of 0.7913 AZN/USD, April 8 - no deals were concluded, the exchange rate remained at the same level 0.7913 AZN/USD.

Exchange rate of manat to 1 U.S. dollar:
March 28	0,7920	April4	0,7913
March29	0,7920	April5	0,7913
March30	0,7913	April6	0,7913
March31	0,7913	April7	0,7913
April 1	0,7913	April8	0,7913
Average weekly	0,79158	Average weekly	0,7913

No deal was concluded with USD/AZN T+1 and T+2 due to too few appeals by dealers. Appeals were not received on RUB/AZN and EUR/AZN.

Weekly review of Azerbaijani currency market per week

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