Oil Market
First Rise in prices of oil futures was caused by technical factors. Over the first two trading sessions oil prices dropped approximately 3%, which created technically reasonable terms for purchases and enabled to increase the price ceiling by 1%.
The State Oil Company of Abu-Dhabi, the major oil producer and exporter, announced on cut in the oil export by 5%. The reports came as additional assertion for OPEC's resolution on cut in deliveries.
The futures prices of petrol at NYMEX increased 4.5% on 24 October, which promoted rise petrol prices. The fuel mazut and natural also became expensive that day, but still unable to affect oil quotes.
Currency Market
As per the last week results, the official rate of manat with regards to the US dollar, set by the National Bank of Azerbaijan, grew by 0,0006 points or 0.06%. The average rate was established as 0.8738 manats per 1 US dollar, Trend reports.
Last week, the maximum rate of the US dollar in respect to the manat was established on October 16 (0.8742 manats per 1 US dollar), minimum October 19 and 20 (0.8736) manats per US dollar).
As per the last week results, exchange rates of the Azerbaijani manat with regards to the US dollar, established on the base of results of the Baku Interbank Currency Exchange (BICEX) increased by 0,0008 points or 0.08%. Average rate was fixed as 0.872475 manats per US dollar.
Last week, the maximum rate of the US dollar in respect to the manat was established on October 16 (0.8730 manats per 1 US dollar), minimum October 19 (0.8721 manats per US dollar).
Deals concluded last week at BEST with transition to currency (T+0) comprised $6,265m with average sustained exchange rate of 0.8730 AZN/USD on October 16, $6.7m with average sustained rate of 0.8726 AZN/USD on October 17, $3,630m with average sustained rate of 0.8721 AZN/USD on October 19, $5,755m with average sustained rate of 0.8722 AZN/USD on October 20.
Due to the absence of appeals, no deal was concluded with Russian ruble and Euros last week. An only deal was concluded on USD/AZN T+1 instrument on 16 October with the amount of 78,795 AZN. The average sustained rate of 0,8755 AZN per 1 USD.
Privatization Shares Market
During this period the prices of vouchers were stable and made up 80,000 old manats (16 AZN).