The exchange rate of the US dollar changed in the range of 0.8124-0.8146 AZN/USD over the week and the dollar rose 0.27%.
The official rate of the US dollar rose 0.17%, cash sell price (for some banks) incrrased 0.15% and cash sell price 0.33%.
The difference between the average cash sell rate and average exchange rate was AZN 0.006 or 0.7%.
Last week most mainly traded currencies rose against the ruble. Euro sunk to the lowest point for this year.
Of course, these events could not but affect to some extent the Azerbaijani market, resulting in the dollar appreciation.
Analysis of stock exchange market in the past week revealed another aspect of the market which is the lack of foreign exchange transactions with T +1 and T +2, also no SWAP operations conducted.
As a rule, that is, the developed markets in the world such events are interpreted as a so-called offensive investment pause when market participants are not confident in the stability of rates and expect any major changes. But here there is no reason for this because currency transactions in Azerbaijan were still only of current operational nature and are not secondary derivative transactions.
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