As expected, the rate of national currency against the US dollar exceeded the "psychological barrier" of 1.05 manat, established on February 21 (the day of the first wave of devaluation).
The Central Bank decided this morning on the official exchange rate of 1.0501 manat (until Friday, 6 November, it was no more than 1.0498 manat). According to experts of Turan, so the CBA is "softly" preparing the population for a second wave of devaluation of the manat, but does not do it immediately, as it was in February, which caused a stir in the financial market, including the banking sector, but in stages.
It is noteworthy that the euro did not fall against the dollar today, but the Central Bank lowered its 1.1424 AZN of 6 November to 1.1281 manat today. Though the structure of the currency basket is not made public, it is necessary to do calculations on the currency, in which mutual settlement operations are conducted on the bilateral trade turnover. The foreign currency investments of the State Oil Fund (SOFAZ) are also accumulated in USD by a half. --17D-
Economics
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The weaknesses of strategic planning in the Azerbaijani land transport sector were revealed during a briefing on improving legislation, which was attended by representatives of the Azerbaijan Land Transport Agency (AYNA) and the Ministry of Digital Development and Transport.
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The Cabinet of Ministers of the Republic of Azerbaijan has made changes to the existing provisions regarding the approval of construction documentation and the service fees for construction. The amendments are guided by Article 119 of the Constitution of Azerbaijan and are aimed at simplifying processes related to construction permits and operations.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved a new procedure for the recruitment of medical personnel to medical institutions included in the state healthcare system. The decision, which comes into force on January 1, 2025, aims to enhance the implementation of compulsory health insurance in the country.
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The Organization of Turkic States (OTS) convened a pivotal meeting in Guba, recently named the agricultural capital, to introduce the "OTS Made" brand for agricultural products. Representatives from the Ministries of Agriculture of Azerbaijan, Turkey, Uzbekistan, Kazakhstan, and the Turkish Republic of Northern Cyprus, along with experts from relevant departments, participated in the event.
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