The official dollar rate has not changed
On Monday the Central Bank kept the dollar at the previous level - 1.7352 AZN. Commercial banks buy dollar in the range of 1.72-1.78 manats, and sell for 1,83-1,85 manat.
The official exchange rate of euro amounted to 1.8425 manat. Commercial banks buy the European currency in the range 1,8057-1,87 AZN and sell for 1,92-1,9715 manats.
In February the dollar has fallen from 1.92 to 1.7352 AZN. Experts point out the speculative nature of the strengthening of manat. -71D-
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review