The National Bank of Azerbaijan said the USD declined to AZN 0.8140 from AZN 0.8453 during eight months.
July marked the lowest dollar this year.
The US dollar went down 3% against AZN in 2007. However, the downtrend was seen changing in August this year and dollar started to rise for the first time.
Experts at the National Bank said the rise I caused by external factors.
“Macroeconomic trend in Europe lagged behind the United States recently and short-term overlook for the United States was positive while economic forecasts for Eurozone were pessimist. Also, consume prices index was 1.1% in Eurozone in July. The US dollar appreciation is temporary,†said the central bank.
Analysts say strong dollar may have negative impact on the social-economic situation in Azerbaijan. The National Bank of Azerbaijan enjoys several levers to bring the USD exchange rate down in the country.
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