"Fitch Solutions" forecasts exchange rate of manat to remain stable

"Fitch Solutions" forecasts exchange rate of manat to remain stable
# 08 July 2022 14:43 (UTC +04:00)

"Fitch Solutions" forecasted that the Central Bank of Azerbaijan (CBA) will reduce the interest rate to 6.75% by the end of 2022, APA-Economics reports citing the Fitch Ratings 2022 Mid-Year Outlook.

According to the forecast, the interest rate will be reduced by 1% by the end of the year.

Notably, on June 17, the Management Board of the Central Bank of Azerbaijan (CBA) determined the interest rate again at 7.75%. The lower limit of the interest corridor remained unchanged at 6.25%, and the upper limit at 9.25%. The next decision of the CBA Management Board on the parameters of the interest rate corridor will be announced on July 29.

Besides, "Fitch Solutions" forecasted that the exchange rate of the manat will not change in 2022 remaining at the level of 1.7 manats.

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