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ECONOMY

TENDERS AT BICEX

29.08.2003 [14:30]
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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 26 valued 4914 manat for 1 dollar.

In the morning, according to results of vote auctions, the volume of concluded deals totaled at $ 130 thousand. The opening rate of the trade session was 4914 manat for $1 dollar and remained unchanged till the end of the auctions. Demand and supply amounted at $130 thousand.

The price of the American currency in the proposals hovered around 4914 manat for $1 dollar in the Bourse E-system of trades /BEST/. According to USD/AZM T+0 in BEST, the volume of $2,407 million manat has been fixed which equals 11,828 billion in manats. Thus, one deal averaged at $267 444.

As to T+1,T+2, the dealers have not concluded any deals because of the lack of demand.

At the Inter-bank credit market, functioning within the BEST, the National Bank have made offers on the placement of 1,2 billion AZM credits and $ 200 thousand at 10% annual interest rate. No deals on credit instruments were made at the exchange on August 28.

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