On the foreign exchange auction of the Central Bank on February 14 the dollar fell from 1.7301 to 1.7296 manat.
The auction was attended by the State Oil Fund.
In general, in February the dollar rate to manat fell by 19 kopecks.
Thus, on February 1, the dollar was 1.92 manat.
In parallel, EUR also falls. In February, the pan-European currency fell from 2.0719 to 1.8358 manat.
Commercial banks buy dollars from the population in the range of 1.68-1.73 manat, and sell them at 1.74-1.76 manat.
Customer can buy euros in commercial banks in the range of 1.8570-1.92 manat and sell them at 1.80-1.83 manat.
Experts believe the current strengthening of the manat is speculative, stressing that this has no economic justification. -71D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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