At the currency auction of the Central Bank on March 14, the USD rate fell from 1.7437 to 1.7279 manat.
Commercial banks buy the US currency in the interval 1.70-1.72 manat, and sell it at 1.73-1.74 manat.
The Central Bank states that the use of a new mechanism of currency auctions and the elimination of the margin between the commercial and official exchange rate has balanced the foreign exchange market. -71D-
Economics
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In recent months, an increase in the price of butter has been observed in Azerbaijan. Notably, this is the third price hike within a year. According to consumers, certain brands of butter that cost 19 manats per kilogram at the end of last year are now being sold for 24 manats, marking a nearly 30% increase.
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Azerbaijan has signed an "Agreement on Project Implementation" with China’s BYD Company Limited (BYD) to establish a domestic production line for electric buses, officials announced.
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Russia has reduced its greenhouse gas emissions by more than twofold from the 1990 baseline, Russian Prime Minister Mikhail Mishustin announced at the COP29 climate summit.
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Georgian Prime Minister Irakli Kobakhidze announced that Georgia will present its updated Nationally Determined Contribution (NDC 3.0) by 2025, signaling the country’s renewed climate ambitions during his speech at the COP29 summit in Baku on Wednesday.
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