The Financial Markets Supervision House has registered 1 million short-term notes of the Central Bank of Azerbaijan in two issues.
According to Turan, 500 thousand short-term notes at par value of 100 manats each were registered under number 50100553S. The maturity of the notes is 28 days.
In addition, 500,000 short-term notes at par value of AZN 100 each were registered at the number 50100653S. The maturity of these notes is 29 days.
Note that the notes were issued as part of anti-inflation measures. In addition, for the sterilization of money the Central Bank has been conducting weekly deposit auctions since June 2016. -----71D
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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