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Manat stability proves balanced market – central bank - EXCLUSIVE

Exchange rate of manat is formed on the basis of demand-supply ratio in the currency market and manat stability proves the balanced market, Central Bank of Azerbaijan told APA-Economics.

“The demand-supply ratio is affected by the situation of the balance of payment. Of course, oil price have direct and indirect impacts on Azerbaijan’s balance of payment. These impacts mainly manifest themselves in the mid- and long-term period. However, the oil price is not only factor affecting the balance of payment and currency market. Dynamics of manat rate will further be formed by all factors influencing currency market”, bank said.

 

The Central Bank has set the USD/AZN rate at 1.7002 for today. 

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EXCHANGE RATE
FOREX
/ 15 December, 2017

USD
1.7001
 
EUR
2.0032
 
RR
0.0289