The State Oil Fund sold USD 258.4 million from foreign exchange auctions in February, according to the Fund.
On the whole, eight currency auctions were held in February.
The AZN rate changed in a versatile way in February. During the period from 1 to 16 February, the national currency rate consistently strengthened (from 1.92 to 1.7296 manat per US dollar), but in the second half of the month, the national currency depreciated slightly to 1.7515 manat per US dollar.
Due to the non-transparent information policy of the Central Bank it is not possible to know the volume of supply and demand on a particular currency auction.
The euro exchange rate for February in consideration to manat decreased from 2.0719 to 1.8483 manat. ----71D
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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