In the foreign exchange auction of the Central Bank of Azerbaijan, the dollar rate rose from 1.9165 manat to 1.92 manat. According to Turan, the auction was also attended by State Oil Fund of Azerbaijan.
However, due to non-transparent information policy of the Central Bank is not possible to know the amount of offers and demand at the auction.
It is predicted that the commercial banks also raise the rate of purchase and install a dollar for the level of 1,92-1,93 manat, and sale - 1,98-1,99 manat.
On January 31 the official euro exchange rate is 2.0500 manat.
European banks buy currency to 2, 01-2, 03 AZN, and sell for 2.10 - 2.12 manat. -71D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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