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US dollar gets a sharp surge in Azerbaijanâ€™s on-floor currency market last week

US dollar gets a sharp surge in Azerbaijanâ€™s on-floor currency market last week

12 January 2009 15:43 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. The on-floor currency market turnover totaled $8.9 million from Jan. 5 to 9, up 13.5 times on a weak earlier. Daily turnover was as follows:

The exchange rate of the US dollar changed in the range of 0.8013-0.8504 AZN/USD over the week and the dollar increased 6.1% against the manat.
The official rate of the US dollar increased by 0.03%, â€œwe buyâ€ rate 0.15% and â€œwe sellâ€ rate by 0.1%:

A more than 6% surge can be attributed to the fact that a bank or some banksâ€™ high demand for the US dollar on Jan. 8 and Jan. 9.
However, the exchange rates were not reflected on the official rates of the National Bank of Azerbaijan, proving that this has no macroeconomic ground.

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