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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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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