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DYNAMICS OF CHANGES IN SOME ECONOMIC SEGMENTS

Politics Materials 25 July 2005 11:05 (UTC +04:00)

A drop tendency ruled in the oil futures market during the last week. The forecasts on rise of world demand for oil ad favorable situation of the U.S. commodity reserves of oil and oil products impacted on the reconsideration of world oil prices. Puzzle for participants in the market came to futures market from China, which on Thursday increased the rates of the national currency in regard to US dollar by 2.1% and made grounds for further revaluation of yuan.

As a result of trading sessions held on 22 July the September futures on Brent oil at the International Petroleum Exchange (IPE) jumped $1.86 to $57.58 per barrel. The September Light Sweet oil futures at the NYMEX grew $1.52 to $58.65 per barrel. Sharp rise in futures market led analysts to confusion. The only fresh news for the day was the reports on tropical storm Franklin in the area of Bagam Ireland.

Currency market

Last week rates of Azerbaijani manat grew 3 points in regard to US dollar and made up 4700 manats.

Euro rates started the week at 5664.53 manats per euro, and completed at 5719.5. Thus, it grew 54.67 points. The difference between the maximal and minimal indices was 60.94 points.

Last week official rate of AZM in regard to USD dropped every day at BBVB, while maximal difference between the rates made up 3.92 points.

Aggravate amount of trading sessions (BEST) at BICEX comprised US $9,614m last week. Average daily deals constituted US $1.9228m. Maximal rates were fixed on 18 July, comprising US $4.302m. Strong fluctuations were not peculiar to last week dynamic of trading sessions.

Privatization shares market

The prices of privatization shares remained unchanged.

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