On Monday, the Central Bank announced the official rate of the manat to the US dollar on September 6th. It remained at the same level - 1USD / 1,6362AZN. The commercial banks of the US currency is much higher - 1.70 manat per dollar, while the euro sold for 1, 90 AZN. At the same time, commercial banks there is an acute shortage of foreign currency. Most banks do not sell the dollar and the euro, or not to sell more than 100 dollars in a hand. -75D-
Economics
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Azerbaijan, which has been collaborating with the International Monetary Fund (IMF) since September 1992, is currently exploring a new type of partnership with the financial institution.
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The Eurasian Development Bank (EDB) is actively exploring the possibility of expanding its shareholder base to include neighboring countries such as Azerbaijan, Turkmenistan, and Mongolia. This was announced by EDB Chairman Nikolai Podguzov at a press conference on December 5, 2024, where he emphasized the importance of expanding the bank’s membership to foster sustainable growth.
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In 2023, the trade turnover between Azerbaijan and Turkey reached $7.5 billion, aligning with 50% of the target set by both nations, which aims for $15 billion in future bilateral trade. This milestone was shared by Barış Altıparmak, the World Turkish Business Council representative for Azerbaijan, during a meeting of the Eurasian Council of the organization in Baku.
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Azerbaijan's President Ilham Aliyev signed a decree on Thursday to establish the Nakhchivan Industrial Park in the Nakhchivan Autonomous Republic, aiming to foster competitive production and bolster entrepreneurial growth.
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