After two days of stability in respect to AZN the USD dollar rose again, according to the Central Bank of Azerbaijan.
On the November 1 auction the dollar rose from 1.6381 to 1.6471 manat.
Note that this is the highest rate of USD to the manat after two devaluations. Until now, the record high exchange rate was recorded on March 11, 2016, being 1 USD – 1.6456 AZN. -71D-
Economics
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On December 3, Azerbaijan's Cabinet of Ministers approved new regulations requiring small electric transport vehicle operators to provide detailed data on vehicle use and operator information to government systems, effective immediately.
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In November 2024, the State Oil Fund of Azerbaijan (SOFAZ) sold $574.6 million, pushing the total dollar sales for the first 11 months of the year to $6.5 billion. According to SOFAZ, this represents a 40.8% increase compared to November 2023, when sales reached $339.9 million.
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Azerbaijan's state-owned mining company AzerGold CJSC will assess the primary reserves of promising sites in Guinea-Bissau as part of its efforts to expand operations into new markets, the company said on Monday.
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The gradual decrease in oil production in Azerbaijan may lead to a reduction in the production of oil products, as reflected in the government's forecasts for 2025-2028.
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