On the foreign exchange auction of the Central Bank of Azerbaijan on Thursday the dollar rose from 1.7296 to 1.7351 manat. The auction was attended by SOFAZ.
Note that this is the first rise in price of USD to AZN in February.
Even before the start of the auction on February 16 commercial banks slightly increased the buying and selling rates of the dollar and the euro.
Today, the dollar buying rates at commercial banks ranged from 1.72 to 1.75 manat per dollar. The selling rate started from 1.80 manat.
In the last three days the rate of purchase and sale of EUR has also grown significantly.
Recall that in the first half of February the manat strengthened against the dollar by 19 kopecks or 10%, which has been called by experts "currency speculation" at the bank level. -71D-
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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