On Monday, April 4 Azerbaijani Central Bank set the rate of manat to the US dollar on the level of AZN 1.5094 / $1. This is by one gapik higher than today, on 1 April (1.5238). The growth of the manat to the US dollar continues for the second week. Against this backdrop, banks have sharply reduced purchases of dollars at the auctions.-02D-
2016 April 01 (Friday) 13:46:03
The first foreign currency trading in April took place. The State Oil Fund of Azerbaijan (SOFAZ) through an auction organized by the Central Bank sold $ 1 million.
According to SOFAZ, one bank bought $ 1 million, while $ 100 million was offered for the acquisition.
The sale of foreign currency by the Fund is carried out in the framework of state budget transfers, provided for the year in the amount of 7.615 billion manats. --17D-
Economics
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The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change has taken a significant step towards a unified global response to climate change. On the first day of discussions in Baku, participating countries reached a historic agreement on the rules governing the creation and trade of carbon credits. This decision paves the way for the launch of multibillion-dollar carbon credit markets, to be overseen by the United Nations, potentially as soon as next year.
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The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
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The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
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Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
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