Oil market
In the week from 6 to 10 March oil futures price dropped to the level of mid-February, returning its rise achieved two weeks ago. The volatility of prices was conditioned with a diversity of factor present in the oil futures market. The indefiniteness was linked with every of factors and makes the reliable forecasting almost impossible. The development of price situation might go through different ways and wide diapason of variants ranging from collapse of prices to new turn of rise. Thus, collapse is possible in case is OPECs expectations on spring fall in demand for oil are confirmed. The dynamic of oil market last week showed that the participants were not sure in possible price in the short-term period. The prices fell as a result of 4 of 5 trading sessions last week; prices of Brent oil at InterContinental Exchange Futures (ICE Futures) dropped $3.35 per barrel or 5.3%, while prices of Light Sweet at NYMEX dropped $3.71 or 5.8%.
Currency market
As of results of the previous week the official rate of AZN against USD set by the National Bank of Azerbaijan (NBA) has consolidated by o,0004 points (0.04%). The average rate for five weekdays of the past week was set at 0,9119 AZN for 1 USD.
The maximal rate of USD last week against AZN was set on 6 March (0,9124 AZN per 1 USD), minimal - on 9 and 10 March (0,9116 AZN for 1 USD).
As of results of the past week the exchange rate of AZN against USD, set by the results of auction at the Baku Inter-bank Currency Exchange (BICE) grew 0,0008 manat points or 0,08%. The average rate for five weekdays of the previous week was set at the level of 0,9119 AZN for 1 USD.
The maximal rate of USD against AZN last week was set on 10 March (0,9116 AZN per 1 USD), minimal on 10 March (0,9116 AZN for 1 USD).
Deals concluded last week at BEST with transition to currency (T+0) comprised $0,201m with average sustained exchange rate of 0,9124 AZN/USD on 6 March, $1,070m with average sustained rate of 0,9118 AZN/USD on 7 March, $0,210m with average sustained rate of 0,9118 AZN/USD on 9 March and $0,993m with average sustained rate of 0,9116 AZN/USD on 10 March .
A deal with RUR was concluded on 10 March with the amount of 222,000 rubles on average sustained rate of 0,0325 AZN/RUB, while no deal with Euro was concluded last week.
Privatization share market
In this period the privatization share prices grew to 12 manats.