The Central Bank of Azerbaijan (CBA) has established a course USD/AZN on August 6-8 at the level of 1.6005. On August 5 USD/AZN 1,5980 course. Thus, for two months the rate of dollar has risen in price by about 0.11 manat, and crossed the psychological mark of 1.6 manat. This trend once again caused a stir in the foreign exchange market of Azerbaijan. Today, a number of commercial banks have stopped selling the US currency. Other banks have restricted the sale of dollars and released in one hand 500 or 1000 USD.-06D--
Economics
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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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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