Oil market Prices of futures rose on 27 July 2007 amid favorable US macroeconomic statistics.
The results of the contract auctions at exchanges are as following:
- the official price of Light, Sweet Crude Oil futures (September) increased by $2.07 making up $77.02 per barrel at New York Mercantile Exchange (NYMEX), with the prices for deals for a session of $74.70-$77.12 per barrel;
- the official price for IPE e-Brent Crude futures (September) at InterContinental Exchange Futures (IСE Futures) in London increased by $1.08 comprising $76.26 per barrel, with the prices for deals for a session of $74.55 - $76.40 per barrel.
Currency market
Last week (23 - 27 July) the official rate of the manat against the US dollar, set by the National Bank of Azerbaijan fell by 0.0003 points or 0.03%. The average rate was established at 0.8542 to 1 US dollar. The maximum rate of the US dollar against the manat was established on 23 July (0.8544 manats to 1 US dollar), the minimum on 26 and 27 July (0.8541 to 1 US dollar).
As a result of last week's exchange rate of the Azerbaijani manat against the US dollar, established on the basis of results of the Baku Interbank Currency Exchange (BICEX), decreased by 0.0009 points or 0.09%. The average rate was fixed at 0.85264 to 1 US dollar. The maximum rate of the US dollar against the manat was established on 23 July (AZN 0.8534 to 1 US dollar), the minimum on 26 July (AZN 0.8524 to 1 US dollar).
Deals concluded last week at BEST with transition to currency (T+0) comprised $1.87mln with an average sustained exchange rate of 0.8534 AZN/USD on 24 July, $12.59mln with an average sustained rate of 0.8523 AZN/USD on 24 July, $11.2mln with an average sustained rate of 0.8526 AZN/USD on 25 July, $6.895mln with an average sustained rate of 0.8524 AZN/USD on 26 July and $16.42mln with the rate of 0.8525 AZN/USD on the 27 July
No deal was concluded with USD/AZN T+1, T+2 and SWAP_USD/AZN due to an absence of appeals by dealers. The banks did not make appeals for RUB/AZN and EUR/AZN instruments at BEST.
Privatization Shares Market
In this period the price of vouchers remained unchanged as compared to the previous week and made up AZN 11. The allocation of privatization vouchers expires on the 1 January 2008