Last year the Central Bank of Azerbaijan (CBA) sold foreign currency in the amount of $ 8.42 billion to customers, including commercial banks of Azerbaijan. As stated in the report on monetary policy on its official website, the year before the CBA preferred purchase of foreign currency ($ 143 million).
Most of dollars and Euros were sold to customers in the first quarter of last year ($ 3.9 billion), followed by the fourth quarter ($ 1.97 billion). From July to October, it sold $ 1.51 billion, while in the second quarter - $ 1.04 billion.
Through exchangers the population was sold $ 8.8 billion by banks. (+ 47.4% to 2014), and the first quarter is again the leader against the backdrop of the February devaluation of the manat ($ 4 billion 332 million plus 244 million Euros).
The CBA reports that in two stages of the devaluation the national currency slipped against the US dollar by 98.8%, and by 79% against the euro. --17D-
Economics
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According to the State Customs Committee, food import expenditures in Azerbaijan rose by 10.2% in the first ten months of 2024 compared to the same period last year, reaching a record $1.97 billion. This increase, driven by growing demand for vegetables, fruits, tea, rice, and animal products, highlights the country's rising dependence on imported food despite government efforts to boost domestic agricultural production.
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Azerbaijan's potato sector, a cornerstone of the nation's food supply and its second most significant agricultural product, is in sharp decline. Production dropped by 7.6% year-on-year from January to October 2024, reflecting a long-term downward trend, according to the State Statistics Committee.
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Kazakh Energy Minister Almasadam Satkaliyev said on Monday that Kazakhstan and Azerbaijan continue to discuss prospects for transporting Kazakh oil through the Baku-Supsa oil pipeline, which has been idle since spring 2022, Kazakh media reported.
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The supply of Azerbaijani gas to North Macedonia will transition to a regular basis in the mid-term, an informed source told Turan.
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