The Central Bank of Azerbaijan continues the policy of strengthening of manat.
On Friday, the official dollar exchange rate for the coming weekend, and on October 3 will be 1,6170AZN level per dollar. This is by 0.25% lower than the rate on 30 September.
In September, the Central Bank took a course on the consolidation of manat and in conjunction with the State Oil Fund implemented several large foreign exchange market intervention. However, experts believe that in November and December, the demand for foreign currency will rise again due to the advent of performing companies and commercial banks foreign liabilities, which will increase the demand for dollars and euros. -71D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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