Ministry: Control tightened to prevent artificially high prices due to change in Manat exchange rate

Ministry: Control tightened to prevent artificially high prices due to change in Manat exchange rate
# 21 February 2015 13:54 (UTC +04:00)
The ministry’s press service told APA control measures have been strengthened against artificially high prices that might possibly emerge due to changes made to exchanges rates by the State Service forAntimonopoly Policy and Consumer Rights Protection under the Ministry of Economy and Industry, and legal measures will be taken based on the results.
Note that, with the decision of the Central Bank’s Board of Directors dated 21 Feb. 2015, the official exchange rate for USD was defined as equal to AZN 1.05 for 21 Feb. 2015.
A statement issued by the Central Bank said such a decision aims to further stimulate diversification of the national economy, strengthen its international competitiveness and export potential and in this regard secure the strategic resistance of balance of payments and the country’s international solvency.
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THE OPERATION IS BEING PERFORMED