Trading volume in the currency section of the Baku Interbank Currency Exchange (BBVB) in November 2012 was $ 78.773 million or 61.803 million manat.
This is a 13.5% decrease compared to the previous month and by 15% - compared with November 2011.
The average volume of each transaction in e-trading system on USD / AZN reached in November of this $ 2.188 million, the average daily turnover - $ 3.751 million.
Just BBVB auction in November 2012 involved 10 banks. In the reporting month, BEST carried out 42 trading sessions and there were 36 transactions.
Stock exchange turnover for the eleven months of this year amounted to the equivalent of 674.54 million manat, which is 15.8% less than in January-November last year.
The exchange rate of the national currency in the reporting month, down by 0.03% - from 0.7836 to 0.7838 for 1 USD. The average rate of the U.S. dollar against the manat in November was 0.7846 AZN for 1 USD, against 0.7849 AZN in October. - 15B -
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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