With the rise of the dollar, as well as the introduction of limits on the sale of foreign currency by several commercial banks, the “black” currency market has intensified in Baku.
According to the observations of Turan, near the railway station the illegal traders offer foreign currency openly.
In the black market, illegal traders currently buy the dollar for 1.74 manat, and if the client wants to sell the currency on a large scale (over $ 1,000), the price is raised to 1.75 manat.
It should be noted that, according to publications in the media, about 10 banks have stopped selling dollars and 11 banks have introduced a limit from 300 to 1,000 dollars or euro per person.
The official dollar rate for November 10 is AZN 1.6782. But on the auction today the US currency rose to 1.6867 manat, which says that the official exchange rate will rise by November 11. --71D--
Economics
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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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