The Central Bank of Azerbaijan (CBA) bought in January-December 2012 on the market $ 1584 million.
It is noteworthy that in the corresponding period of 2011, the bank was forced to sell $ 4153.2 million from its reserves to maintain stability of the manat.
According to a report on the results of the CBA monetary policy for the four quarters of 2012, the official rate of the manat against the U.S. dollar appreciated by 0.19%. A year earlier the rate was at 1.4%.
Over the past 15 years, the average annual exchange rate of manat was less than 1%, the central bank said. - 15B -
Economics
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The EBITDA (earnings before interest, taxes, depreciation, and amortization) of the State Oil Company of Azerbaijan (SOCAR) has been declining in recent years, as reflected in reports by international rating agencies and the company’s own financial statements. SOCAR’s financial report for 2024 is expected in the summer of 2025, but preliminary data from Fitch Ratings indicates a further decline in the figure.
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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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