Turnover of non-cash foreign exchange transactions in July 2013 amounted to the equivalent of 3,376 million ($ 4.3 billion), an increase of 26.1% on the month. In only 7 months of this year, foreign exchange turnover amounted to 21.7 billion manat. Compared to the same period last year, it increased 21.2 %.
The volume of cash transactions in U.S. dollars in July was $ 1,030 million is for $ 90.4 million or 9.6 % more than in June. During the reported month, sales of the currency rose by 8.5 % and purchases - by 12%. Compared to the same period in 2012 , January- July this year, the total turnover of cash exchange operations with U.S. currency rose by $ 289 million , or 4.3 %, to $ 6,998 million.
The volume of cash transactions euros for seven months in 2013 amounted to 2,170 million (unit of the relevant currency), which is 88.5 percent more than last year . The volume of purchases of the currency declined in July by 2.2 times to its lowest level this year ( 14.2 million).
The total turnover of cash exchange operations in January- July this year, with Russian rubles and with the British pound sterling was equal to 9,203 million, respectively, and 32.9 million.
The average exchange rate of cash dollar to manat fell in July by 2 points, and over the past 12 months - by 17 basis points to 0.7844 manats per 1 USD. -15B-
Economics
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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