After two days of relative stability, the dollar again rose against the manat. According to the official rate of the Central Bank on August 19, the dollar will cost AZN 1.6204. The last two days, on 17 and 18 August US dollar exchange rate to manat was 1.6164. In July 2016 the dollar was worth an average of 1.56 manats, then in August there is a daily growth of the dollar. Record high exchange rate of the dollar after the second devaluation of the manat was on March 11, 2016 - 1USD/1,6456AZN. The lowest dollar rate was on May 25-26, 2016, when the manat rate was 1USD/1,49AZN level. -75D-
Economics
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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In 2024, Europe will receive approximately 12.5 billion cubic meters of gas from Azerbaijan, with the list of buyers expanding to 12 countries. Speaking at an energy forum in Istanbul on Friday, SOCAR President Rovshan Najaf announced that cooperation with a 12th, new gas buyer would begin in December.
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