At a regular currency auction held by the Central Bank of Azerbaijan, the dollar fell to 1.5986 manat, the Central Bank reported.
The auction began with 1 USD / 1,6006 AZN.
The auction was also attended by the State Oil Fund of Azerbaijan.
Note that starting from 5 October the Central Bank determines the AZN rate on new rules. So, in the auction days the exchange rate of the national currency is determined by the price set at the time of the last session. At the same time, commercial banks have the right not only to buy but also to sell foreign currency on the auction.
In the days when the auction is not conducted, the manat exchange rate is determined based on the weighted average price set by agreements in the interbank foreign exchange market. ------71D
Economics
-
Azerbaijan’s Milli Majlis ratified the second amendment to the agreement on the joint development of the Azeri-Chirag-Gunashli (ACG) oil and gas block during its plenary session on Wednesday. The bill was submitted to parliament as a legislative initiative by President Ilham Aliyev.
-
The 104th meeting of the Commonwealth of Independent States (CIS) Economic Council was held in the Russian capital, with representatives from member states discussing enhanced economic collaboration and key regional initiatives. Azerbaijan was represented by First Deputy Prime Minister Yagub Eyyubov.
-
Azerbaijan’s Information and Communication Technologies Agency (IKTA) reported significant improvements in the quality of internet and telecommunications services in the first half of 2024, driven by a comprehensive assessment framework and enhanced regulatory measures.
-
In 2024, Azerbaijan will double its gas supply to Bulgaria, which not only uses this gas for its own needs but also partially sends it to its Balkan Gas Hub and, by agreement with SOCAR, organizes the transit of various volumes to its neighbors.
Leave a review