Central Bank has not changed the dollar on February 13, leaving it at the level 1.7301 manats.
Meanwhile, commercial banks bought today the dollar in the range of 1,61-1,67 manat, and sold for AZN 1,7350-1,8390.
At the official exchange rate of the euro at 1.8445 AZN banks buy it from the population in the range of 1,73-1,77 manat, and sell for 1.85-1.97 manats.
Over the past 10 days the dollar rate to manat has fallen sharply, by 19 kopecks - from 1.92 manat to 2 February 1.7301 AZN 9 February.
Experts talk about the speculative nature of the strengthening of manat and state that strengthening the national currency has no economic justification. -71D-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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