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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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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