Finance

Finance

Euro plunges to 2-month low in Azerbaijan

10 December 2009 16:24 (UTC +04:00)

Baku. Vahab Rzayev - APA-ECONOMICS. According to the official exchange rate set by the Central Bank of Azerbaijan on 10 Dec., the euro dropped to 1.1805 manats, the lowest since Nov. 6.

For the two past months, the euro gradually increased and peaked at on 1.2110 on Dec. 2.

However, dollar-manat pair has almost remained unchanged since early October.

The greenback fell from 0.8033 to 0.8024 manats, and then rose to 0.8028 manats during October-December.

The manat-euro move in Azerbaijan is the euro-dollar trend on world markets where the dollar rose against the euro and yen on Thursday as concerns grew about Europe’s mounting debt strains.
In morning London deals, the euro fell to 1.4712 dollars from 1.4726 late in New York on Wednesday.
The European currency’s fall came a day after Standard & Poor’s lowered Spain’s credit rating outlook to "negative" from "stable."
n London on Thursday, the euro was changing hands at 1.4712 dollars against 1.4726 dollars late on Wednesday, at 129.79 yen (129.43), 0.9043 pounds (0.9054) and 1.5113 Swiss francs (1.5117).
The dollar stood at 88.22 yen (87.88) and 1.0273 Swiss francs (1.0261).
The pound was at 1.6268 dollars (1.6259).
On the London Bullion Market, the price of gold fell to 1,125.70 dollars an ounce from 1,141 dollars late on Wednesday.