It is the first time the manat depreciated on the foreign exchange auction against the dollar by 2.5 kopecks, the economist Natig Jafarli said.
On his profile on Facebook, the expert noted that the Central Bank has set itself the goal to bring the dollar to 1.95-2 manat.
“They want to stabilize the national currency at the level of 2 manat per dollar, and therefore they are in a hurry. It is interesting that in the world the dollar has become cheaper for already two days, but in Azerbaijan it is just the opposite. All this proves that we do not have a floating exchange rate,” he wrote.
Note that on the foreign exchange auction on Wednesday the dollar was AZN 1.8285. -----71D
Economics
-
Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
-
Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
-
Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
-
The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
Leave a review