Azerbaijani Central Bank on Wednesday has not changed the dollar on February 9, leaving it at the level 1.8252 manats. Meanwhile, commercial banks have drastically reduced the rate for the dollar, which on February 8 was in the range of 1,68-1,73 manat; selling rate was in the range of 1.78-1.89 manats per US dollar. At the same time, the official euro exchange rate is 1.9489 manat.
Commercial banks bought the European currency for February 8 1.75-1.83 manats, and sold for 1.90-2.02 manats.
Over the past three days the dollar and the euro fell sharply, without any obvious economic or political reasons.
This makes experts suggest that in the foreign exchange market there is an outright speculation, and with the participation of the Central Bank already. Since the beginning of February manat strengthened against the dollar by more than 9 kopecks - from 1.92 manat February 2 to 1.8252 AZN on 8 February. -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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