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CBA: Reforms have led to a decrease in level of dollarization in economy

19 November 2025 13:05 (UTC +04:00)

Reforms have led to a decrease in the level of dollarisation in the economy, said Taleh Kazımov, Chairman of the Central Bank, during the discussion of the draft law “On the State Budget of the Republic of Azerbaijan for 2026” at today's plenary session of the Milli Majlis, APA reports.

The CBA Chairman stated that stability in the foreign exchange market will continue from the end of 2025, and by the end of the year the exchange rate is expected to form around 6 percent on economic grounds: “In the past period of 2025, the tendencies affecting the foreign exchange market in both the oil and non-oil segments have been balanced, which has ensured exchange rate stability and supported price stability. The continuation of a surplus in the current account and the effective management of economic expectations are key factors strengthening equilibrium in the foreign exchange market. Reforms carried out since 2022 by the Central Bank to strengthen the transmission mechanism have led to a decrease in the level of dollarisation in the economy. Thus, dollarisation in residents’ foreign exchange operations has significantly decreased compared to the period a year earlier, falling to 28.5 percent — the lowest level in history. This dynamic shows both the stability of expectations and the increasing confidence in the manat.”