TENDERS AT BICEX

19.08.2003 [19:29]
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According to results of tenders held in currency section of the Baku Inter-bank Currency Exchange (BICEX), the average weighted exchange rate of USD/AZM on August 11 valued 4915 manat for 1 dollar.

In the morning, according to results of vote auctions, the volume of concluded deals totaled at $ 50 thousand. The opening rate of the trade session was 4915 manat for $1 dollar and remained unchanged till the end of the auctions. Demand and supply amounted at $50 thousand.

The price of the American currency in the proposals hovered around 4915 manat for $1 dollar in the Bourse E-system of trades /BEST/. According to USD/AZM T+0 in BEST, the volume of $2,894 million manat has been fixed which equals 14,224 billion in manats. Thus, one deal averaged at $241 167. As to T+1,T+2, the dealers have not concluded any deals because of the lack of demand. Proposals on EURO/AZM, RUR/AZM have not been advanced.

At the Inter-bank credit market, functioning within the BEST, the National Bank have made offers on the placement of 1,1 billion AZM credits at 10% annual interest rate. No deals on credit instruments were made at the exchange on August 19.

TENDERS AT BICEX

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