Bank Silk Way plans to place terminals of automatic exchange of currencies in the retail and service establishments, the bank said. The first such terminal has been installed in the head office of the bank.
Other terminals will be located at the International Airport Heydar Aliyev, at the airports located in the regions, in all branches of the bank and other strategic locations.
With this terminal clients and visitors of the venture will be able to carry out foreign exchange operations with Azerbaijani manats, US dollars and Euro.
The terminals will be working around the clock. Currency exchange terminals will work on a daily basis to update the currency on the Bank Silk Way currency exchange rate. At the same time from a client exchanging currency at the terminal the commission will not be charged. -71D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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