Month: June 2021

Oil prices dropped for a second day on Tuesday on worries about slower fuel demand growth as outbreaks of the highly contagious COVID-19 variant Delta sparked new mobility restrictions around the world, Trend reports with reference to Reuters.

Brent crude futures fell 35 cents, or 0.5%, to $74.33 a barrel by 0706 GMT, after slumping 2% on Monday.

U.S. West Texas Intermediate (WTI) crude futures fell 34 cents, or 0.5%, to $72.57 a barrel, extending a 1.5% loss on Monday.

The flare-up in cases of the Delta variant comes as the Organization of the Petroleum Exporting Countries (OPEC), Russia and allies, together known as OPEC+, are set to meet on July 1 to discuss easing their supply curbs.

OPEC’s demand forecasts show that in the fourth quarter global oil supply will fall short of demand by 2.2 million barrels per day (bpd), giving the producers some room to agree to add output.

“We expect the cartel to release 250 (thousand barrels per day) of supply curbs from August onwards. Failure to turn on the taps further may see Brent top $80 (a barrel) by next month,” said Howie Lee, economist at OCBC Treasury Research in Singapore.

Spain and Portugal, favourite summer holiday destinations for Europeans, imposed new restrictions on unvaccinated Britons on Monday, while 80% of Australians faced tighter curbs due to flare-ups of the virus across the country.

Talks on a travel corridor between the United States and Britain also slowed, partly on concerns about a rise in cases of the Delta variant in Britain, the Financial Times reported, citing officials.

Analysts expect OPEC+ to step up supply by about 500,000 bpd in August, as the market has tightened on strong growth in fuel demand in the United States and China, the world’s two biggest oil consumers.

Investors will be looking to the latest U.S. inventory data to reinforce that view, with analysts expecting crude stocks to extend their fall for a sixth straight week, while gasoline stocks also declined, a preliminary Reuters poll showed.

Seven analysts estimated, on average, that U.S. crude stocks fell by about 4.5 million barrels in the week to June 25, in a poll conducted ahead of reports from the American Petroleum Institute, an industry group, on Tuesday and the Energy Information Administration (EIA), on Wednesday.

Source: TREND News Agency

The Central Bank of Iran (CBI) has announced the official rate of foreign currencies on June 29, Trend reports referring to CBI.

According to the currency exchange rate of the Central Bank of Iran, 15 currencies have increased and 24 have decreased compared to June 28.

According to CBI, $1 equals 42,000 Iranian rials and 1 euro equals 50,123 rials.

Currency Iranian rial on June 29 Iranian rial on June 28

1 US dollar USD 42,000 42,000

1 British pound GBP 58,356 58,292

1 Swiss franc CHF 45,718 45,769

1 Swedish krona SEK 4,936 4,953

1 Norwegian krone NOK 4,929 4,951

1 Danish krone DKK 6,741 6,742

1 Indian rupee INR 566 567

1 UAE dirham AED 11,437 11,437

1 Kuwaiti dinar KWD 139,502 139,214

100 Pakistani rupees PKR 26,583 26,670

100 Japanese yens JPY 38,000 37,908

1 Hong Kong dollar HKD 5,411 5,412

1 Omani rial OMR 109,234 109,233

1 Canadian dollar CAD 34,075 34,162

1 New Zealand dollar NZD 29,618 29,706

1 South African rand ZAR 2,956 2,969

1 Turkish lira TRY 4,833 4,802

1 Russian ruble RUB 582 583

1 Qatari riyal QAR 11,539 11,539

100 Iraq dinars IQD 2,879 2,878

1 Syrian pound SYP 34 34

1 Australian dollar AUD 31,805 31,865

1 Saudi riyal SAR 11,201 11,200

1 Bahraini dinar BHD 111,703 111,701

1 Singapore dollar SGD 31,290 31,288

100 Bangladeshi takas BDT 49,517 49,485

10 Sri Lankan rupees LKR 2,110 2,111

1 Myanmar kyat MMK 26 26

100 Nepalese rupees NPR 35,158 35,226

1 Libyan dinar LYD 9,325 9,346

1 Chinese yuan CNY 6,506 6,507

100 Thai baths THB 131,565 131,932

1 Malaysian ringgit MYR 10,130 10,105

1,000 South Korean wons KRW 37,154 37,255

1 Jordanian dinar JOD 59,239 59,239

1 euro EUR 50,123 50,128

100 Kazakh tenge KZT 9,844 9,842

1 Georgian lari GEL 13,316 13,347

1,000 Indonesian rupiahs IDR 2,903 2,907

1 Afghan afghani AFN 530 536

1 Belarus ruble BYN 16,663 16,635

1 Azerbaijani manat AZN 24,722 24,706

100 Philippine pesos PHP 86,368 86,480

1 Tajik somoni TJS 3,684 3,710

1 Turkmen manat TMT 12,020 11,966

In Iran, the official exchange rate is used for the import of some essential products.

SANA system is a system introduced by the Central Bank of Iran to the currency exchange offices, where the price of 1 euro is 286,878 rials, and the price of $1 is 240,387 rials.

NIMA is a system intended for the sale of a certain percentage of the foreign currency gained from export. The price of 1 euro in this system is 257,758 rials, and the price of $1 is 215,986 rials.

In the black market, $1 is worth about 241,000-244,000 rials, while 1 euro is worth about 285,000-288,000 rials.

Source: TREND News Agency

The official exchange rate of the US dollar and euro against Azerbaijani manat was set at 1.7 manat and 2.0252 manat respectively for June 29.

Below are the rates of Azerbaijani manat against world currencies according to the data from the Central Bank of Azerbaijan.

Currencies June 29, 2021 June 25, 2021 May 29, 2021 June 29, 2020 Daily difference Monthly difference Annual difference

1 US dollar 1 USD 1.7 1.7 1.7 1.7 0 0 0

1 euro 1 EUR 2.0252 2.0296 2.0729 1.9114 -0.0044 -0.0477 0.1138

1 Australian dollar 1 AUD 1.2843 1.2904 1.3159 1.1687 -0.0061 -0.0316 0.1156

1 Argentine peso 1 ARS 0.0178 0.0178 0.018 0.0242 0 -0.0002 -0.0064

100 Belarus rubles 1 BYN 0.6733 0.6719 0.6768 0.7121 0.0014 -0.0035 -0.0388

1 Brazil real 1 BRL 0.3451 0.3459 0.32 0.31 -0.0008 0.0251 0.0351

1 UAE dirham 1 AED 0.4628 0.4628 0.4628 0.4628 0 0 0

1 South African rand 1 ZAR 0.1191 0.1199 0.1235 0.0982 -0.0008 -0.0044 0.0209

100 South Korean won 100 KRW 0.1505 0.1506 0.1521 0.1416 -0.0001 -0.0016 0.0089

1 Czech koruna 1 CZK 0.0797 0.0798 0.0815 0.0714 -0.0001 -0.0018 0.0083

1 Chilean peso 100 CLP 0.2317 0.2314 0.233 0.2078 0.0003 -0.0013 0.0239

1 Chinese yuan 1 CNY 0.2631 0.263 0.2662 0.2402 0.0001 -0.0031 0.0229

1 Danish krone 1 DKK 0.2723 0.2729 0.2788 0.2565 -0.0006 -0.0065 0.0158

1 Georgian lari 1 GEL 0.5387 0.5404 0.5205 0.5561 -0.0017 0.0182 -0.0174

1 Hong Kong dollar 1 HKD 0.219 0.219 0.219 0.2193 0 0 -0.0003

1 Indian rupee 1 INR 0.0229 0.0229 0.0234 0.0225 0 -0.0005 0.0004

1 British pound 1 GBP 2.3573 2.3669 2.4 2.1026 -0.0096 -0.0427 0.2547

100 Indonesian rupiah 100 IDR 0.0117 0.0118 0.0119 0.0119 -0.0001 -0.0002 -0.0002

100 Iranian rials 100 IRR 0.004 0.004 0.004 0.004 0 0 0

1 Swedish krona 1 SEK 0.1995 0.2006 0.2045 0.1827 -0.0011 -0.005 0.0168

1 Swiss franc 1 CHF 1.8471 1.8528 1.8949 1.795 -0.0057 -0.0478 0.0521

1 Israeli shekel 1 ILS 0.5218 0.5245 0.5234 0.4958 -0.0027 -0.0016 0.026

1 Canadian dollar 1 CAD 1.3771 1.3805 1.4024 1.2441 -0.0034 -0.0253 0.133

1 Kuwaiti dinar 1 KWD 5.6462 5.6476 5.6561 5.5246 -0.0014 -0.0099 0.1216

1 Kazakh tenge 1 KZT 0.004 0.004 0.004 0.0042 0 0 -0.0002

1 Kyrgyz som 1 KGS 0.0201 0.0201 0.0204 0.0225 0 -0.0003 -0.0024

100 Lebanese pounds 100 LBP 0.1119 0.1124 0.1125 0.1125 -0.0005 -0.0006 -0.0006

1 Malaysian ringgit 1 MYR 0.4097 0.4086 0.4104 0.3966 0.0011 -0.0007 0.0131

1 Mexican peso 1 MXP 0.0857 0.0855 0.0855 0.0738 0.0002 0.0002 0.0119

1 Moldovan leu 1 MDL 0.0945 0.0944 0.0966 0.0988 0.0001 -0.0021 -0.0043

1 Egyptian pound 1 EGP 0.1085 0.1084 0.1085 0.1052 0.0001 0 0.0033

1 Norwegian krone 1 NOK 0.1989 0.2002 0.2029 0.1754 -0.0013 -0.004 0.0235

100 Uzbek soums 100 UZS 0.0161 0.0161 0.016 0.0167 0 0.0001 -0.0006

1 Polish zloty 1 PLN 0.4499 0.449 0.4605 0.4277 0.0009 -0.0106 0.0222

1 Russian ruble 1 RUB 0.0235 0.0235 0.0231 0.0243 0 0.0004 -0.0008

1 Singapore dollar 1 SGD 1.2654 1.2666 1.2837 1.22 -0.0012 -0.0183 0.0454

1 Saudi riyal 1 SAR 0.4533 0.4533 0.4533 0.4532 0 0 0.0001

1 SDR (Special Drawing Rights of IMF) 1 SDR 2.4286 2.4291 2.4589 2.3411 -0.0005 -0.0303 0.0875

1 Turkish lira 1 TRY 0.1956 0.1953 0.2009 0.248 0.0003 -0.0053 -0.0524

1 Taiwan dollar 1 TWD 0.0607 0.0609 0.0611 0.0576 -0.0002 -0.0004 0.0031

1 Tajik somoni 1 TJS 0.1504 0.1503 0.1503 0.1649 0.0001 0.0001 -0.0145

1 New Turkmen manat 1 TMM 0.4857 0.4857 0.4857 0.4857 0 0 0

1 Ukrainian hryvna 1 UAH 0.0622 0.0617 0.0618 0.0637 0.0005 0.0004 -0.0015

100 Japanese yen 100 JPY 1.5377 1.5339 1.5586 1.5874 0.0038 -0.0209 -0.0497

1 New Zealand dollar 1 NZD 1.195 1.2025 1.2392 1.0928 -0.0075 -0.0442

Source: TREND News Agency

The number of people who traveled to Uzbekistan from Azerbaijan in 2020 amounted to 2,200, while the number of Uzbek citizens who traveled to Azerbaijan accounted for 1,400, Trend reports referring to the State Statistics Committee of Uzbekistan.

According to the committee, the number of citizens of Uzbekistan who left the country for the CIS countries in 2020 amounted to 1.8 million people, to other foreign countries – 158,200 people. It is noted that 84.7 percent left for the purpose of visiting relatives, 7.9 percent – for recreation and leisure, 5.4 percent – for studies, 1.2 percent – for work needs, and 0.8 percent – for treatment.

At the same time, the number of foreign citizens who arrived in Uzbekistan from the CIS in 2020 amounted to 1.4 million people, or 94.4 percent, from non-CIS countries – 83,800 people, or 5.6 percent.

It is noted that the goal of the largest part of foreign citizens who entered Uzbekistan in 2020 is to visit relatives (87.8 percent). The smallest share of foreign citizens who entered is for recreation and leisure – 8.6 percent, treatment – 1 percent, work needs – 1.2 percent, commercial travel – 1.1 percent, and study – 0.3 percent.

It is reported that the largest flow of foreign citizens to Uzbekistan was noted from Kyrgyzstan – 508,000 people (33.8 percent), Kazakhstan – 424,100 people (28.2 percent), Tajikistan – 337,500 people (22.4 percent), Russia – 81,600 people (5.4 percent), Turkmenistan – 60,600 people (4 percent), Azerbaijan – 2,200 people (0.1 percent) and Belarus – 1,600 people (0.1 percent).

The main outflow of citizens of Uzbekistan was noted in Kyrgyzstan – 47.4 percent (947,700 people), Kazakhstan – 26 percent (520,300 people), Tajikistan – 15 percent (299,500 people), Russia – 2.7 percent (53,200 people), Turkmenistan – 0.8 percent (16,600 people), Belarus – 0.2 percent (3,700 people) and Azerbaijan – 0.1 percent (1,400 people).

Moreover, the largest outflow of people from Uzbekistan to foreign countries accounted for Turkey (62,700 people), the United Arab Emirates (29,500 people), Saudi Arabia (27,800 people), South Korea (9,800 people), India (5,400 people), Egypt (4,900 people), Thailand (4,700 people), the US (3,100 people), Germany (1,700 people) and Singapore (1,300 people).

Source: TREND News Agency