The State Oil Fund of Azerbaijan and the Central Bank in the foreign exchange auction offered 150 million dollars (US $ 100 million and $ 50 million respectively), according to the Central Bank.
According to Turan, 14 commercial banks purchased only $ 48.9 million from the proposed amount.
It should be noted that in September the State Oil Fund and the Central Bank began to large foreign exchange intervention in the market, resulting in solving the problem with a deficit of US currency. ----71D
Economics
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In recent years, relations between the Russian Federation and the Republic of Azerbaijan have deepened, supported by a solid legal framework comprising more than 170 agreements, according to economist Gubad Ibadoglu.
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The visit to Azerbaijan by a Belarusian delegation led by Deputy Foreign Minister Igor Nazarchuk concluded with significant discussions aimed at strengthening economic and trade relations between the two countries. The delegation’s meetings with various Azerbaijani ministries, including those of economics, agriculture, and digital development, reflect an active approach to preparing for President Alexander Lukashenko's forthcoming visit to Azerbaijan for COP29.
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In the first eight months of 2024, Azerbaijan experienced a significant increase in international tourism, with 1,748,032 foreign tourists visiting the country—30% more than in the same period last year. This notable growth in foreign arrivals signals the strengthening of Azerbaijan's position as a tourist destination, although it still lags behind neighboring Georgia, which continues to dominate the tourism business in the South Caucasus.
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Chairman of the State Committee for Urban Planning and Architecture Anar Guliyev, revealed ambitious plans for the new Istisu settlement on social media, following the foundation-laying ceremony attended by President Ilham Aliyev in Kalbajar on September 2, 2024.
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