13:01 - 10.08.2023

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The Board of the Central Bank has made changes to the Rules for conducting operations in foreign currency by residents of the Republic of Azerbaijan, as well as by non-residents in national and foreign currencies.

The Central Bank told ABC.AZ that the changes came into force on August 9.

In accordance with the changes, daily limits on amounts transferred by individuals outside the country for personal purposes were canceled, a monthly limit of $20,000 was established regardless of the form of transfer, and the ability of individuals to pay travel and hotel expenses associated with travel was also provided. abroad, not only their own, but also other persons.

At the same time, the process of processing documents for transfers of imported goods was simplified, and for trade mediation transactions, the possibility was established for an intermediary to make an advance payment to the seller up to 180 days in the order of a preliminary transfer. At this time, the intermediary must provide the authorized bank with an irrevocable letter of credit or bank guarantee securing payment.
In addition, by means of payment cards issued in the territory of the Republic of Azerbaijan, resident individuals outside the country established cash withdrawals in the amount of $10,000 within a month.