The AZN rate dropped by 10 points on December 30. On the morning of December 30 the scoreboards of the exchangers showed a new course: the purchase of the US dollar was at 1.6 manat, and the sale – at 1.7 manat (Euro buying was at 1.7 AZN, and Euro sale was at 1.72 AZN).
The previous rate of $ 1 = 1.52 AZN, $ 1 = 1.57 AZN, announced after this year’s second devaluation of the manat, lasted only a week. CBA announced a "floating" exchange rate of manat (minus 47.7% against the dollar and 48% against the euro) on December 21.
This decision of the Central Bank caused a panic on the currency market. Exchange offices are in fever. Today, some of them were closed for buyers and sellers of currencies. -0-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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