Exchange Rate in Azerbaijan
Azerbaijan - Exchange RateGrowth was sturdy in Q1 2019, thanks to increased petroleum production and improving non-oil activity. Industry was again the star performer, followed by the agricultural sector, which has benefited from a slew of reforms in recent years. Retail sales also gained pace, suggesting that household spending remained resilient; hikes in the minimum wage and minimum pension, enacted recently to appease growing public discontent over rising living costs, should further stoke private consumption. Moreover, export growth soared in the quarter despite a challenging external backdrop. Increased revenues from higher overseas oil sales have boosted the state oil fund SOFAZ, along with bolstering tax revenues. In other news, BP recently announced that it will be leading a consortium of energy partners to expand a vital offshore oil platform in the country, with USD 6 billion earmarked for the project.
Azerbaijan - Exchange Rate Data
|Exchange Rate (vs USD)||0.78||0.78||1.56||1.76||1.71|
5 years of economic forecasts for more than 30 economic indicators.
Azerbaijan Exchange Rate Chart
|Exchange Rate||1.70||-0.66 %||May 13|
|Stock Market||0.1||0.0 %||May 13|
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