From December 21 to 25 Central Bank of Azerbaijan (CBA) has had a currency intervention at the interbank currency market to the amount of $300 million. Therefore, CBA’s currency resources were close to $5.1 billion.
Last week (before devaluation) CBA has sold currency to the amount of $493 million at the interbank currency market.
CBA has resumed the currency sales operations at the interbank currency market on December 8, 2015 after the Azerbaijan State Oil Fund has suspended the currency sales.
From December 8 to 11, 2015 CBA has sold $255 million at the interbank currency market. During the past two weeks the volumes of sales of CBA totaled $748 million.
Since September 1, 2014 CBA’s currency resources reduced by $10.2 billion.—0—
Economics
-
But Putin Says It's "Virtually Impossible" Due to Zelensky's Position Slovak Prime Minister Robert Fico visited Moscow on Sunday to discuss energy issues, becoming the third EU country leader to hold talks with Vladimir Putin since Russia's 2022 invasion of Ukraine. Prior visits include Austrian Chancellor Karl Nehammer in April 2022 and Hungarian Prime Minister Viktor Orbán in July 2024. Slovakia is also a NATO member.
-
Environmental, Social, and Corporate Governance (ESG) principles have emerged as a transformative force in modern business practices, reshaping priorities across industries. This was a key theme highlighted by Orkhan Mammadov, Chairman of the Management Board of the Small and Medium Business Development Agency (KOBIA), at the conference "Labor Relations, Occupational Safety, and Human Resources as Key ESG Approaches," held on Monday in Baku.
-
A detailed review of legislative norms and e-government services across various business environment domains has been prepared and published by the working group of the Business Environment and International Ratings Commission, focusing on electricity network connections.
-
The draft law "On Amendments to the Tax Code," adopted in its third reading, provides for tax exemptions on the sale of locally manufactured buses in Azerbaijan and the supply of spare parts for these vehicles. This was reported by the Tax Service under the Ministry of Economy, explaining that the government's initiative aims to support business development in the country by reducing the tax burden. The exemption will come into effect on January 1, 2025, and will remain valid for eight years.
Leave a review