On the foreign exchange auction of the Central Bank on October 18 the consolidation of AZN stopped.
The auction began with a course of 1.5969 manats per 1 US dollar, and ended at the level of 1.5999 AZN.
After several large foreign exchange interventions of the Central Bank and the State Oil Fund the rising of USD against AZN, observed the whole summer was suspended on September 9 at the 1 USD / 1.6403 AZN level. During September and the first half of October AZN slightly strengthened.
Experts warned of a new wave of price hike for the US currency by the end of the year, during the execution of the external liabilities by banks and companies. -71D-
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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