The Central Bank of Azerbaijan does not track the actual currency market – on Friday to Monday the exchange offices of commercial banks did not sell dollars. Turan’s correspondent interviewed traders who reported that they were waiting from “orders from the top", while willing to take foreign currency for exchange.
The dollar against the manat exchange in different exchange points of Baku was different - to buy - from 1.45 to 1.55, for sale - 1.65 - 1.85, but, as noted, this service is not available.
Meanwhile, the Central Bank of Azerbaijan today unveiled the opinion that "rumors about another devaluation of the national currency of Azerbaijan and the increase in the dollar rate to two manat are unfounded." In fact, close to the exchange points there were money changers with bundles of dollars sold for this course - on May 28 Street USD is sold for 1.8 - 2 AZN per USD.
Recall, December 21 CBA announced a "floating" exchange rate of the manat (minus 47.7% against the dollar and 48% against the euro), but the banks do not comply with this ratio, capitalizing on the difference - all exchange offices operate under certain commercial banks. --- 17D-
Economics
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In late February, the governments of Pakistan and Azerbaijan are expected to sign an investment agreement worth $2 billion, which will include several projects with SOCAR (State Oil Company of Azerbaijan). According to Turan, the energy cooperation projects discussed in January in Islamabad and Baku will feature in the agreement. These projects include energy efficiency initiatives, the construction of a pipeline, and SOCAR’s plans to explore the creation of underground gas storage facilities in Pakistan, as well as documents provided by the Pakistani side related to the exploration and extraction of hydrocarbons in the country.
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Azerbaijan continues to face an acute water shortage that affects both drinking and irrigation supplies, a problem that, despite frequent media attention, remains unresolved. Farmers are particularly feeling the pressure.
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BAKU, Feb 3 (Reuters) - Representatives from Azerbaijan’s State Tax Service (STS) participated in the latest session of the working group on tax, customs, and legal issues hosted by the German-Azerbaijani Chamber of Commerce.
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The Agency for the Development of Small and Medium Enterprises (KOBİA) has issued 192 start-up certificates to entrepreneurs, approximately 50% of whom are youth, according to Orkhan Mammadov, Chairman of KOBİA. The announcement was made at the Fifth Young Entrepreneurs Forum in Baku, underscoring the government's increasing focus on fostering innovation among the nation’s young entrepreneurs.
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