Azerbaijani Central Bank announced the rate of dollar to manat at the weekend, and on Monday 22 August. According to Turan, the dollar remains at current levels - 1.6204 AZN. The high price of US dollar in respect to manat after the second devaluation was established on March 11, 2016 - 1USD / 1,6456AZN. The lowest rate of the dollar was also set on 25-26 May 2016. In those days, manat strengthened by 1USD/1,49AZN. -78-
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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