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Euro hits 13-month high and dollar hits 6-month low in Azerbaijan

14 October 2009 14:43 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. In response to the trends on the world markets, the euro has hit a 13-month high and dollar 6-month low against the national currency in Azerbaijan.

According to the Central Bank of Azerbaijanâ€™s exchange rates, the euro was at AZN 1.1956 and the dollar at AZN 0.8030 on October 14.

Azerbaijanâ€™s home currency â€“ manat is one of the worldâ€™s stable currencies.

On the world markets, concerns about the future of the US economy have brought the dollar to its lowest level in 14 months against the euro.

The value of the euro against the dollar increased to 1.4887 from 1.4852 in Asian trade -- the highest level since August 2008.

The American currency also fell to 89.90 yen from 89.67. The euro contracted to 132.36 yen from 133.30.

The losses are blamed for a slow-paced recovery in the world’s largest economy.