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10:15 21 November
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CBA chairman: Manat rate may rise by year-end

The floating exchange rate will be constant, but not a temporary issue. This regime will last, Chairman of the Management Board of Central Bank of Azerbaijan Elman Rustamov said.

According to him, het floating exchange rate regime is based on existing economic realities and international practice: “Today, many countries are preparing for switching to this regime. This regime is the most effective measure for Azerbaijan’s development and resistance against external shocks. It has no alternative. Stability in the market shows that this regime has justified itself”.

 

Touching upon the strengthening of manat rate in the recent times, Rustamov noted that this was affected by factors such as improvement of situation of the balance of payment, rise in oil price: “Positive tendencies show that manat rate has may rise by the year-end”.  

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EXCHANGE RATE
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/ 21 November, 2017

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1.7002
 
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