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Dynamics of changes in some economic segments

Politics Materials 21 February 2007 12:01 (UTC +04:00)

Oil Market Oil Market

Last week (12-16 February) change in oil prices was not so high, though during the trading sessions the dynamic of oil futures was volatile. On Friday (16 February) the March futures on Light Sweet oil at New-York Merchantile Exchange (NYMEX) closed at the point $59.39 per barrel, whereas the previous week ended at $59.89 per barrel At InterContinental Exchange Futures (ICE Futures) in London prices of Brent oil ended at $58.95 per barrel against $59.01 per barrel fixed last year. Thus, Brent prices dropped at the end of the week even despite maintenance of contango - rates of definite oil futures exceeds the rates of nearest contracts. However, this year difference between far and near oil futures decreased essentially.

In accordance with February forecasts by ОПЕК , in 2007 the world demand for oil will increase 1.24mln barrels a day to $85.37mln barrels a day, or 1.47%. OPEC's forecasts did not coincide the expectations. In its February report OPEC decreased the forecast for 2007.

Currency market Currency market

Last week (February 12 th to 16 th ) 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 0.86974 to 1 US dollar, Trend reports.

Last week the maximum rate of US dollar against manat was established on February 12 th (0,8699 manats to 1 US dollar), minimum - on February 16 th (0.8696 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 0,0003 point or 0.03%. The average rate was fixed at 0.86968 to 1 US dollar

Last week the maximum rate of US dollar against the manat was established on February 12 th (0,8699 manats to 1 US dollar), minimum - February 15 th (0.8694 manats to 1 US dollar

Deals concluded last week at BEST with transition to currency (T+0) comprised $5,577mln with an average sustained exchange rate of 0,8699 AZN/USD on February 12 th , $4,257mln with an average sustained rate of 0,8698 AZN/USD on February 13 th , $4,370mln with an average sustained rate of 0,8697 AZN/USD on February 14 th , $0,560mln with an average sustained rate of 0,8694 AZN/USD on February 15 th and $0,735mln with an average sustained rate of 0,8696 AZN/USD on February 16 th.

No deal was concluded with Russian ruble and euros last week due to absence of appeals.

Privatization Shares Market Privatization Shares Market

In this period the p rice of vouchers fell from the point at 16 manats and made up 15 manats.

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