Oil market
Oil prices last wee dropped. Drop in oil prices was caused by further weakening of the tropic storm Chris, and later by its full end. The disappearance of the storm removes threats for fall in oil production in the Mexican shelf, which over the first 3 days of the week pushed the prices up.
Results of trading sessions at exchanges for nearest futures contracts were as follows on 4 August:
- at New York Mercantile Exchange (NYMEX) official futures prices of Light, Sweet Crude Oil (July) fell 70 cents (-0.9%) and was set at the point of $74.76 per barrel at the price of ranging from $74.15-$75.68 per barrel;
- at London-based InterContinental Exchange Futures (IРЎE Futures) official price of IPE e-Brent Crude Futures Electronic (July) dropped 39 cents (-0.5%) and got fixed at $76.17 per barrel at prices ranging from $75.64 to $77.17 per barrel.
Currency market
As a result of the last week official rate of manat in regard to US dollar, set by the National Bank of Azerbaijan grew 0,101 point or 1.01%. Average rate was established as 0.89638 manats per 1 US dollar, Trend reports.
Last week maximum rate of US dollar in respect to manat was established on 31 July and 1 August (0.9090 manats per 1 US dollar), minimum 3 August (0.8879 manats per US dollar)
As of results of the last week exchange rates of Azerbaijani manat in regard to US dollar, established on the base of results of the Baku Interbank Currency Exchange (BICEX) increased by 0,0004 point or 0.04%. Average rate was fixed as 0.88722 manats per US dollar.
Last week maximum rate of US dollar in respect to manat was established on 2 August (0.8877 manats per 1 US dollar), minimum 1 and 3 August (0.8869 manats per US dollar).
Deals concluded last week at BEST with transition to currency (T+0) comprised $0.8m with average sustained exchange rate of 0.8871m AZN/USD on 31 July, $4.235m with average sustained exchange rate of 0.8877m AZN/USD on 2 August, $5,27m with average sustained rate of 0,8869 AZN/USD on 3 August, and $9,636m with average sustained rate of 0,8875 AZN/USD on 4 August.
No deal was concluded with Russian ruble and euros last week due to absence of appeals
Only one deal was fixed with EUR/AZN in the amount of 7,956,20 AZN. The average sustained rate made up 1,1366 AZN per 1 EUR.
Privatization shares market
In this period prices of vouchers were not stable. The week started with 85,000 old manats (17 AZN), while on 1 and 2 August the prices went down to 80,000 manats (16 AZN), on 3 August it was 75,000 manats (15 AZN), while on 4 August the rates grew to 80,000 manats (16 AZN).