Country's Central Bank set the official rate of the manat to the US dollar on February 14 at the same level - 1.7301 manat per dollar, according to a Central Bank report.
Over the past week the dollar and the euro in Azerbaijan has been reduced dramatically, causing uncertainty in the foreign exchange market. According to experts, the rise in price of manat is artificial and temporary. Meanwhile, commercial banks buy dollars and euros is much less than the official rate, and sell - much more expensive than the same rate. This fact gives rise to the experts talk about currency speculation in the financial market. -02D-
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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