Oil market
Futures oil prices increased at the week of 25 to 29 June. On Friday, 29 June, the August the August futures of Brent oil at ICE Futures in London closed at the point of $71.41 as compared to $71.18 on previous Friday. The August oil futures of Light Sweet at the New York Merchantile Exchange (NYMEX) closed on 29 June at the point of $70.68 as compared to $69.14 a the end of the previous week. Major exchange events of the last week were observed in New York, where Light Sweet oil prices tried to leave behind the Brent prices, which jumped ahead over the past months. Rise in oil prices last week was linked with next weekly data on US commodity reserves of oil and oil products.
Last week (25 to 29 of June) the official rate of the manat against the US dollar, set by the National Bank of Azerbaijan grew by 0.0002 points or 0.02%. The average rate was established at 0.8559 to 1 US dollar.
Last week the maximum rate of the US dollar against the manat was established on 25 and 26 of June (0.8560 manats to 1 US dollar), the minimum on 28 and 29 June (0.8558 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), increased by 0.0011 points or 0.11%. The average rate was fixed at 0.853875 to 1 US dollar
Last week the maximum rate of the US dollar against the manat was established on the 25 June (AZN 0.8545 to 1 US dollar), the minimum on the 29 of June (AZN 0.8534 to 1 US dollar).
Deals concluded last week at BEST with transition to currency (T+0) comprised $46.51mln with an average sustained exchange rate of 0.8545 AZN/USD on the 25 of June, no deal was held on the 26 June in connection with the holiday, $8.818mln with an average sustained rate of 0.8541 AZN/USD on the 27 June, $22.7mln with an average sustained rate of 0.8535 AZN/USD on the 28 June and $4.7mln with the rate of 0.8534 AZN/USD on the 29 June
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 rose by AZN 1 and made up AZN 11. The efficacy of privatization check expires on the 1 January 2008.