The Central Bank of Azerbaijan reports that did not make any statements about the influence of the ratio of US dollar and manat the increase the rate of the US Federal Reserve System. The rate of manat against the US dollar remains stable, according to the CBA.
This statement was made in response to requests for information from various media.
As is known previously the US Federal Reserve for the first time since the crisis in 2008 has raised the discount rate by 0.25%, and now it is in the range of 0.25-0.50%. The discount rate (i.e., the interest rate at which commercial banks borrow money from the regulator) has been reduced to almost zero in 2007 during the financial crisis, triggered by the subprime crisis.
The rate of manat to the US dollar fell after the devaluation of the national currency in February 2015 by the government of Azerbaijan. Manat fell by 0.27 kopecks - from 0.78 manat to 1.05 manat to dollar.-0-
Economics
-
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.
-
The supply of Azerbaijani gas to North Macedonia will transition to a regular basis in the mid-term, an informed source told Turan.
-
In Azerbaijan, the minimum consumption basket may be reassessed next year. This was discussed during a joint meeting of parliamentary committees. The last changes to the consumption basket were made a decade ago. However, during this period, inflation has risen, and the cost of the minimum living standard has also increased. Moreover, some experts believe that the current minimum consumption basket in Azerbaijan requires significant updates, with the inclusion of additional goods and services.
-
Azerbaijan's draft state budget for 2025 prioritizes strategic objectives outlined by President Ilham Aliyev, including economic growth, social development, and reconstruction of liberated territories, according to senior officials speaking at a parliamentary session on Monday.
Leave a review