. Despite the fact that the State Oil Fund and the Central Bank of Azerbaijan on 8 September sold 300 million USD from the foreign exchange auction, it has not become easier to buy the currency at commercial banks and the foreign exchange deficit persists.
Contrary to expectations, many banks have not resumed USD sale on September 9.
For example, Bank Respublika, Bank Standard, Rabita Bank, Pasha Bank, Demir Bank and the International Bank of Azerbaijan said they would not sell foreign currency.
Uni Bank reported a limit on the sale of $ 100 per person, and Ata Bank evasively said the limit depends on the amount of cash in each separate branch.
Only in Capital Bank we were told that there were no restrictions on the sale USD there.
It should be noted that the major emission of the dollar in the market on September 8 caused depreciation of the rate of currency purchases by commercial banks from the citizens. Thus, banks lowered the purchase price from 1.70 - 1.68 manats to 1.64 manats per dollar.
It should be noted that the Central Bank set the official exchange rate on September 9 at 1 USD / 1.6403 AZN. -71B-
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review