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Central Bank to take adequate measures about impact of Federal Reserve’s decision on Azerbaijan - EXCLUSIVE

The US Federal Reserve’s decision on interest rates affects countries, which have a large amount of speculative capital flow, in a short-run. As Azerbaijan has not a large amount of speculative capital flow, no any change as a result of Federal Reserve’s decision is expected in Azerbaijan, Central Bank of Azerbaijan told APA-Economics.

The bank noted that this decision will not directly affect the manat rate: “If this decision causes change in oil price after a certain time, then this factor may have impact on the balance of payment of the country”.

 

“The Federal Reserve’s decision may affect the countries like Azerbaijan in the mid- and long-term period. In order to regulate these impacts, the government and the Central Bank takes and will take adequate measures for macroeconomic stability. Expectations on increase of dollar in the world market after the Federal Reserve’s decision do not justify themselves yet. Psychological impacts of these processes on the country’s currency market as an expectation are not excluded. So, in accordance with the current exchange rate regime in the country, the USD rate against manat is formed depending on demand and supply in the market. Demand-supply ratio in the foreign currency market is mainly formed depending on the situation of the balance of payment”, the bank said in the statement.    

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EXCHANGE RATE
FOREX
/ 23 September, 2017

USD
1.7008
 
EUR
2.0342
 
RR
0.0294