Oil market
Head of the OPEC Edmund Daukoru gave to understand the participants in the market that drop in quotations on oil production after the conference is less probable. Acknowledging that rise in demand lags the proposal, Daukoru nevertheless, pointed at the factors of risks, such as political instability in the Near East and breaks in the delivery of black gold from some U.S. fields.
Daukoru stressed that in this conference OPEC intends to put off auto-pilot and analyze in detail the situation in the world economy in general and particularly, in the world market. It means that definiteness in the fate of quotations of every OPEC conference will be considerably lower.
Qatars Petroleum Minister Abdullah bin Hamad al-Attiyah also stated that he does not expect drop in quotations on the results of the forthcoming conference. Moreover, he assures that OPEC will not hesitate and reduce the quotes, if it feels such necessity.
Currency market
As a result of last week, the official rate of manat in regard to US dollar, set by the National Bank of Azerbaijan grew 0,001 point or 0.1%. The average rate was established as 0.8804 manats per 1 US dollar, Trend reports.
Last week the maximum rate of US dollar in respect to manat was established on 4 and September (0.8809 manats per 1 US dollar), minimum 8 September (0.8799 manats per US dollar)
As a result of the last week exchange rates of Azerbaijani manat in regard to US dollar, established on the base of results of the Baku Interbank Currency Exchange (BICEX) increased by 0,0009 point or 0.09%. Average rate was fixed as 0.87972 manats per US dollar.
Last week maximum rate of US dollar in respect to manat was established on 5 September (0.8804 manats per 1 US dollar), minimum 7 September (0.8790 manats per US dollar).
Deals concluded last week at BEST with transition to currency (T+0) comprised $1m with average sustained exchange rate of 0.8803 AZN/USD on 4 September, $0,550m with average sustained rate of 0.8804 AZN/USD on 5 September, $0.746m with average sustained rate of 0.8795 AZN/USD on 6 September, $46,459m with average sustained rate of 0.8790 AZN/USD on 7 September and $1,150m with average sustained rate of 0,8794 AZN/USD on 8 September.
No deal was concluded with Russian ruble and euros last week due to absence of appeals.
Privatization shares market
In this period the prices of vouchers were stable and made up 85,000 old manats (17 AZN).