There is pressure on AZN and this process will continue at least until the next year, the economist Natig Jafarli said.
In an interview with Turan the expert noted that he is not waiting for sudden shocks, but before the end of the year through a soft devaluation the dollar will rise to 1.80-1.90 manat.
“The US Federal Reserve will certainly increase the interest rate, the oil began to fall in price last week, the import of products in connection with New Year holidays will be increased, and the number of people traveling on holidays will grow. All this creates a high demand for foreign currency,” he said.
According to him, the value of the manat after the New Year will depend on the processes in the world.
“It's hard to say how things will be after the New Year. But in 2016 the dollar will not stop the growth,” Jafarli said. --71B
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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