Finance

Finance

Azerbaijan manat real effective exchange rate declined in June

10 August 2009 15:22 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. As of July 1, the nominal effective exchange rate (NEER) of the manat (national currency) increased by 0.5% for the trade turnover, and 1.7% for imports but declined by 0.5% for exports during January-June, said the Central Bank of Azerbaijan in a report.

At the same time, the figures dropped by 2.3%, 2.3% and 2.2% respectively in June as against May.

The NEER for non-oil sector jumped by 3.7% during January-June.
Meanwhile, the real effective exchange rate (REER) of the manat declined by 5%. The rate dropped by 3.4% for non-oil sector.

	Nominal effective exchange rate			Real effective exchange rate
	Trade turnover	Imports	Exports	Trade turnover	Imports	Exports
December 2008	100	100	100	100	100	100
January	103.0	104.0	102.2	102.0	102.6	101.5
February	107.9	109.3	106.6	105.5	106.6	104.7
March	107.9	109.7	106.4	104.2	105.2	103.3
April	106.0	107.4	104.8	101.8	102.4	101.1
May	102.9	104.1	101.8	98.2	98.6	97.7
June	100.5	101.7	99.5	95.0	95.5	94.6