The Central Bank of Azerbaijan increased the dollar to 1.7039 AZN. According to Turan, the foreign exchange auction Tuesday afternoon US dollar exchange rate was established at 1.7024 manat. On November 15 the official exchange rate was at the level 1.6954 manats. -71D-
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2016 November 15 (Tuesday) 12:42:30
On the foreign exchange auction of the Central Bank the manat depreciated against the dollar by 0.4%.
According to Turan, the auction began with a rate USD 1 / AZN 1.6954 and completed with a rate 1.7024 manat per US dollar.
Starting from the middle of October, the dollar against the manat is steadily increasing. Experts predict at the end of the year the dollar exchange rate will reach 1.80-1.85 manat. -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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