Situation with Deposit Acceptance in Azerbaijani Banks

In November 2024, the lending situation changed in two Azerbaijani banks. These banks revised the interest rates for both consumer and business loans offered in Azerbaijani manats.

In October 2024, the construction materials market in Baku experienced a significant price increase, averaging 5% compared to the previous month. This sharp rise contrasts with the modest 0.9% growth seen in September, indicating a spike in demand or supply constraints in the local market. The data for October shows broader inflationary pressure affecting key construction resources, along with diverse price trends across various material categories.

In October 2024, the average price of the consumer basket (CB) in Baku, which includes 30 essential food items of domestic production, compiled by Turan Agency, increased by 0.8%.

In October 2024, the situation with accepting deposits in 7 banks changed in Azerbaijan. Banks have revised the percentage of deposits placed in Azerbaijani manats and US dollars.