The Central Bank of Azerbaijan has announced the official rate of the manat to the US dollar on March 12-14. Rate USD/AZN was 1.6411 manat.
Thus, for the first time since early March manat slightly strengthened against the dollar. The official dollar exchange rate on March 11 was 1.6456 manat .--- 06D—
2016 March 11 (Friday) 16:52:01
Today the State Oil Fund of Azerbaijan (SOFAZ) put up forsale at the currency auction $200 million US dollars. The demand of commercial banks amounted to $68 million. For the first time since the beginning of March at the auction the offer exceeded demand.—06D-
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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