Bank Of Baku

Assistant to president explains “red line” for manat rate

Assistant to president explains “red line” for manat rate
# 11 March 2016 10:56 (UTC +04:00)

“The main factor affecting manat rate is the level of import and manat rate. The manat rate declines when the import increases. Currently, it’s not needed an emergency intervention to manat rate by the Central Bank. There is not any “red line” on manat rate. The exchange rate is set by market. Generally, there is a red line that may damage the economy. In such cases, the Central Bank intervenes in it”, Amirov said.  

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