Baku. Vahab Rzayev – APA-Economics. In Q1, 2013, exchange policy of Azerbaijan was directed to ensuring balance between demand and supply in currency market and stability of manat against USD, it was stated in the CBA’s Monetary Policy Review on Q1, APA-Economics reports.
According to the review, parameters of exchange policy have been determined through taking into account the situation of balance of payment, financial stability in banking sector and maintenance targets of competitiveness of non-oil sector.
During the reporting period, CBA realized exchange policy through the corridor within the framework of dollars/pounds bilateral exchange rate targeting. Demand exceeded supply at the currency market. During the reporting period, CB’s currency sterilization made $ 844.7 mln.
Though, average price rise of exchange rate of manat against dollar made 0.4% in the first quarters of the past 5 years, the exchange rate almost hasn’t changed during this period: ‘Stability of exchange rate of national currency has positively impacted on macro-economic atmosphere and stability of financial sector in the country’.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
