The official US dollar exchange rate was set on June 29 by the Central Bank of Azerbaijan at the level 1.5363 manats. This is slightly more than the rate on 26-28 June (1.5332). The rate of dollar continues to grow steadily in respect to manat for the fourth week. Commercial banks are buying dollars from the population at the rate of 1,52-1,53 manat, but sell at 1,59-1,595 manats, i.e. a margin of just 0.07 AZN, while in the early months the difference between the buying and selling of the dollar was only 0,02-0,003 manat. Many commercial banks have set limits on the dollar sale and sell one hand no more than 500-1000 dollars. Against this background, a number of experts predict a new devaluation of manat.-06D-
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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