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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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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