The Central Bank announced the rate of manat for 7 September - 1USD/1,6405AZN ( on 6 September it was 1,6362AZN.) The rate of manat is close to the historical anti-record which for 11 March, 2016 was 1USD/1,6456AZN. –79D-
2016 September 06 (Tuesday) 15:58:26
The Central Bank of Azerbaijan has published the volume of demand for foreign currency from commercial banks at the auction held on September 6.
The demand amounted to $ 588 million.
It should be noted that the State Oil Fund sold 30 banks $ 50 million on September 16. -------78D
2016 September 06 (Tuesday) 12:46:21
The State Oil Fund of Azerbaijan (SOFAZ) sold $50 million to commercial banks. The currency was acquired by 30 banks.
The real demand on the part of banks is not reported. Experts point out that the actual demand for each auction exceeds the supply by 10-12 times.
Note that since the middle of August in Azerbaijan there has been an acute shortage of dollars. ------74D
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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