Oil Market
The oil prices rose in the week from 23 to 27 October as a result of OPEC's actions for cu in oil production, data on dynamic of commodity reserves of oil and oil products in the United States and reports on terror threats on the Saudi Arabia.
The considerable rise prices was observe din on 25 October.
Meanwhile, the US Energy Ministry announced last week the commodity reserves reduced by 3.3mln barrels to 332.3mln barrels. Another negative factor for the oil market was data on weak growth of the GDP in the United State in the third quarter of 2006. the growth if the U.S. economy made up 1.6% in annual calculation against the forecast of 2.0% 2.2%.
Currency Market
As per results last week, the official rate of manat with regards to the US dollar, set by the National Bank of Azerbaijan, grew by 0,0001 points or 0.01%. The average rate was established as 0.87343 manats per 1 US dollar, Trend reports
Last week, the maximum rate of the US dollar with respect to the manat was established on 27 October (0.8735 manats per 1 US dollar), minimum October 25 and 26 (0.8734) 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 0,0003 points or 0.03%. Average rate was fixed as 0.8722 manats per US dollar.
Last week, the maximum rate of the US dollar in respect to the manat was established on October 27 (0.8725 manats per 1 US dollar), minimum October 26 (0.8719 manats per US dollar).
Deals concluded last week at BEST with transition to currency (T+0) comprised $15.43mln with average sustained exchange rate of 0.8722 AZN/USD on October 25, $2.725mln with average sustained rate of 0.8719 AZN/USD on October 26, $6.15mln with average sustained rate of 0.8725 AZN/USD on October 27.
Due to the absence of appeals, no deal was concluded with Russian ruble and Euros last week.
Privatization Shares Market
During this period the prices of vouchers were stable and made up 80,000 old manats (16 AZN).