Economic indicators shift in Azerbaijan, Türkiye, and Iran

Economic indicators across several Middle Eastern and Eurasian markets show significant movement in currency values, inflation, and energy prices for the second week of September 2026.

In Azerbaijan, the manat remained stable against the U.S. dollar at 1.7000, though it saw a slight decrease against the euro and an increase against the Russian ruble. Concurrently, crude oil prices rose sharply; Azeri Light (CIF) increased by 11.23% to an average of $113.67 per barrel, while Dated Brent rose 15.1% to $113.66.

In Türkiye, producer price inflation for August 2026 was estimated at approximately 2.55-2.6% month-on-month, exceeding the reported consumer price inflation of 1.84%. If this trend persists, the annual producer price index could exceed the annual consumer price inflation by 9-10 percentage points.

In Iran, the Central Bank released exchange rates for September 12, noting that 33 currencies increased in value against the rial while 13 fell. The official rate for the U.S. dollar was set at 1,634,132 rials.