Today, commercial banks imposed a de facto ban on the withdrawal of dollars by using payment cards through ATMs. Turan’s correspondent in an experiment tried in vain to make it through two cards.
That is to say, the issuance of currency to customers has been limited. In addition, the possibility of withdrawing money from accounts in banks and their branches through cash has been restricted to the range of $ 2 thousand due to the shortage of cash. Moreover, banks have introduced restrictive rates on foreign currency deposits - 2 to 3% per annum.
Recall, in the “gray” market the exchange rate of the manat is at 2 AZN to $ 1. - 17D-
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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