The Central Bank did not change the dollar rate on March 16, leaving it at 1.7282 manats.
Commercial banks buy dollars from the population in the interval of 1.68-1.70 manats, and sell 1.73074 manats.
The euro exchange rate is 1.8344 manats. In commercial banks the population can sell the euro in the interval 1.81-1.82 per manat, and buy - for 1.8350-1.85 manats. Experts believe that the policy of strengthening the manat rate is short-term.
The Central Bank, in turn, explains the reason for strengthening the national currency by applying a new mechanism of currency auctions, liquidating the margin limit between the commercial and official exchange rate. -71D-
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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