. The depreciation of the manat continued at the Central Bank's currency auction.
According to Turan, the auction began with a rate of 1.7339 manat and finished with 1.7369 manat per US dollar.
At the same time due to non-transparent information policy of the Central Bank, the ratio of supply and demand is not clear.
Meanwhile, commercial banks buy US currency for 1.80 and allegedly sell it for 1.8032 AZN. But in fact, they have not sold the currency for already a third week, because of which the “black market”, where the dollar is sold at the rate of 1.85 AZN, is thriving. -71D-
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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