The State Oil Fund of Azerbaijan reports that the auction sold $301.5 million in November. However, due to the non-transparent information policy of the Central Bank of Azerbaijan (CBA) there is no access to information on the sales volume of currency in November by the country's commercial banks.
Since October the foreign exchange auctions are held under the new rules, according to which commercial banks have the right not only to buy, but also to sell dollars.
According to expert, monthly demand for the US currency is $1 billion or $1.5billion.
However, since mid-October, the dollar is steadily increasing. In October 18 the dollar rate was worth 1.5969 manat, the exchange rate was established at 1.7339 manat in December 2. -71D-
Economics
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Azerbaijani President Ilham Aliyev signed a decree on Monday aimed at improving social welfare, increasing the country’s minimum monthly wage to 400 manats ($235) starting January 1, 2025.
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Turkish companies YDA and ASFAT plan to build a shipyard near Kazakhstan's port of Kuryk to address the country's domestic fleet shortage, Kazakhstan's Minister of Transport Marat Karabaev announced on Monday during a parliamentary session. The project underscores Kazakhstan's ambitions to strengthen its maritime capabilities and logistics infrastructure.
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Kazakhstan's Minister of Transport, Marat Karabayev, unveiled the country’s bold roadmap for transforming itself into a premier transport and logistics hub in Eurasia. Speaking in parliament on Monday, Karabayev detailed strategies to capture a share of the massive $1 trillion annual freight flows between the East-West and North-South corridors.
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The ASCO-owned ferry "Shahdag," freshly refurbished, has resumed operations on the Azerbaijan-Kazakhstan route, aiming to alleviate severe truck congestion at ports on both sides of the Caspian Sea.
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