The Central Bank left unchanged the rate of manat on October 7. According to Turan, on Friday remained the rate 1USD/1,6036AZN level. Since 6 October the Central Bank conducts currency auctions under the new rules, according to which commercial banks have the right not only to buy, but also to sell the currency. Manat exchange rate depends on the price, which is determined during the last session. On the days when there is no auction, the rate of manat is based on the average weighted price set by agreements in the interbank foreign exchange market. -71D-
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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