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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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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