Dynamics of changes in some economic segments
Last week (17 - 21 September) the future prices of Light Sweet oil at New York Mercantile Exchange (NYMEX) set the new record and fixed at the point above $80 per barrel. The geopolitical factors, such as the talks on possible war of western powers against Iran and threat of new hurricane in the Mexican Gulf did not affect the dynamic of oil prices. However, the weather and geopolitical risks have numerously impacted the quota of oil futures and with consideration of price levels achieved their ability of moving the prices forward, especially in condition of fuel season, is not so considerable. The major driving force in increase of oil prices should be found in the currency sector.
On Friday (21 September) the October futures for gas closed at $6,080 per 1 British petroleum unit, whereas a week earlier it was $6,279 per BPU.
In accordance with the report of the Energy Ministry dated 19 September, the commodity oil reserves reduced by 3.8mln barrels to 318.8mln barrels.
Last week (March 12th to 16th) the official rate of the manat against US dollar, set by the National Bank of Azerbaijan grew by 0,0003 point or 0.03%. The average rate was established as 0.86774 to 1 US dollar.
Last week the maximum rate of US dollar against manat was established on March 12th and 13th (0,8679 manats to 1 US dollar), minimum - on February 15th and 16th (0.8676 to US dollar).
As a result of last week's exchange rate of Azerbaijani manat against US dollar, established on the basis of results of the Baku Interbank Currency Exchange (BICEX), increased by 0,0004 point or 0.04%. The average rate was fixed at 0.86768 to 1 US dollar
Last week the maximum rate of US dollar against the manat was established on March 12th and 13th (0,8679 manats to 1 US dollar), minimum - March 15th (0.8674 manats to 1 US dollar
Deals concluded last week at BEST with transition to currency (T+0) comprised $1,650mln with an average sustained exchange rate of 0,8679 AZN/USD on March 12th, $2,610mln with an average sustained rate of 0,8679 AZN/USD on March 13th, $1,830mln with an average sustained rate of 0,8677 AZN/USD on March 14th, $8,080mln with an average sustained rate of 0,8674 AZN/USD on March 15th and $1,880mln with an average sustained rate of 0,8675 AZN/USD on March 15th`
A deal with EUR/AZN T+1 tool was concluded on 16 March with the amount of 12, 731 manats. The average sustained rate constituted 1,1574 manats per 1 EUR.
No deal was concluded with the tools of USD/AZN T+1, T+2 and SWAP_USD/AZN last week due to absence of appeals. The banks did not apply for tools of RUB/AZN and EUR/AZN T+0 at BEST.
Privatization shares market
In this period the price of vouchers remained unchanged - 13 manats. The allocation of privatization vouchers expires on the 1 January 2008.