![During Year Currency Reserves of Central Bank of Azerbaijan Decreased by Almost Half](https://turan.az/resized/media/2015/main/050800115377-750-500-resize.webp)
During Year Currency Reserves of Central Bank of Azerbaijan Decreased by Almost Half
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
- 8 May 2015 14:25
Economics
-
Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
-
Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
-
The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
-
There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
Leave a review