Turnover of non-cash foreign exchange transactions in September 2013 amounted to the equivalent of 3197 million ($ 4.1 billion), an increase of 15.2% on the month. Just 9 months of this year exchange turnover amounted to 27.7 billion manat. Compared to the same period last year, it increased 16.8 %.
The volume of cash transactions in U.S. dollars in September was $ 1,037 million is for $ 69 million or 7.1 % more than in August . During the reporting period the volume of purchases of the currency increased by 29.3%, while sales decreased by 0.3 %. Compared to the same period of 2012 in January-September this year, the total turnover of the cash exchange operations with U.S. currency rose by $ 315 million or 3.6 % to $ 9,006 million.
The volume of transactions with euro cash for the nine months 2013 amounted to 2549 million (in units of the relevant currency) , which is 38.4 percent more than last year .
The total turnover of the cash exchange operations in January-September this year with the Russian ruble and the British pound was equal to 12,566 million, respectively, and 50 million.
Average exchange rate of U.S. dollar cash to manat in September decreased by 1 point , and for the past 12 months - by 13 basis points to 0.7844 AZN for 1 USD. - 15B-
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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