The CBA announced official exchange rates of currency on March 10. The rate of the USD/AZN was set at 1.6315. On March 7-9, the dollar was 1.6228 AZN. -06D--
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It seems that the central bank will no longer take part in foreign exchange selling auctions.
According to the Azerbaijani State Oil Fund (SOFAZ), it has allocated funds in the amount of $ 50 million.
In total, the auction was attended by 24 commercial banks, which bought the entire declared amount.
SOFAZ sells foreign currency within the approved transfers to the state budget at the level of 7 billion 615 million AZN. --17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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