From July 2014 to May 2015 the foreign exchange reserves of the Central Bank of Azerbaijan decreased from $ 15 billion 193 million to $ 8 billion 387 million.
According to the report on the website of the Central Bank of Azerbaijan, the reserves have been decreasing for almost a year.
However, the sharpest drop in reserves occurred during the first four months of this year - from $ 13 billion 758 million or by 4 billion 292 million dollars (over 39%).
In the second half of 2014 the reserves declined steadily by about 1 billion monthly. Reduction in April 2015 amounted to over 1 billion 84 million.
Recall that in February, the head of the Central Bank said that the manat rate will gradually decline against the major currencies. This caused a stir and buying dollars by the population. According to the President, in a few days the population bought up a few billion dollars. In response, the authorities carried out a sharp devaluation of the national currency and the manat per day fell by 34%. -02D-
Economics
-
Azerbaijani state power company Azerenerji, SOCAR Trading, and Italy's Ansaldo Energia have signed a trilateral agreement on carbon credits, Azerenerji announced on Friday.
-
The SOCAR-UNIPER joint venture inaugurated a 65 MW steam generator unit at the "Ethylene-Polyethylene" plant on Friday as part of activities held during COP 29. The project, aimed at boosting energy efficiency, is a significant milestone for the joint efforts of SOCAR and UNIPER in Azerbaijan’s chemical industry.
-
French energy giant TotalEnergies is considering participation in solar and wind power projects in the Nakhchivan Autonomous Republic of Azerbaijan, a move discussed during talks in Baku on November 15 between TotalEnergies CEO Patrick Pouyanné and Azerbaijani government officials.
-
Azerbaijan's Ministry of Energy, China Energy Overseas Investment Co. Ltd., and SOCAR Green LLC have signed an agreement to implement a 160 MW solar power project in the Fizuli district, Economy Minister Mikayil Jabbarov announced on social media on Wednesday.
Leave a review