Central Bank: Along with bilateral exchange rate, the nominal and real effective exchange rate of manat will be monitored

Central Bank: Along with bilateral exchange rate, the nominal and real effective exchange rate of manat will be monitored
# 29 January 2015 10:52 (UTC +04:00)

Baku. Musa Ahmadov - APA-Economics. High financial sustainability ensuring macroeconomic stability of the economy will be maintained this year, Central Bank of Azerbaijan told APA-Economics.

CBA says monetary and exchange rate policy will be conducted by taking into consideration the global economic risks, strategic development challenges of national economy: “Quick response of monetary policy to both inflation and deflation will be ensured. Character and scale of this response will change depending on demand and supply factors. Stability of exchange rate of manat will be priority in 2015. Depending on economic situation, quickness of monetary policy will be increased in oerder to support economic growth”.

Regarding impact of global and regional process on the exchange rate of manat, CBA told that the bank is observing these processes.

“The most significant factor influencing exchange rate of manat is the ratio of demand and supply in the domestic currency market. This ratio is formed depending on balance of payment. The Central Bank will target to maintain balance in the currency market. The bank will base on the targets such as ensuring of macroeconomic stability, maintaining of competitiveness of the financial stability and non-oil economy. Along with bilateral exchange rate, the nominal and real effective exchange rate of manat will be monitored”, the bank said.

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