Bank Of Baku

Moody’s points out conditions for restoration of confidence in manat

Moody’s points out conditions for restoration of confidence in manat
# 24 May 2016 09:55 (UTC +04:00)

According to him, people’s confidence in manat is undermined after the second devaluation in 2015: “We can say the confidence in manat will be restores in a few weeks. However, the processes in the market may cause our forecasts to fail. Because the manat is directly depending on the market processes. It’s difficult to predict oil price. Our predictions on oil price half or a year ago failed. As you know, we forecasted oil price at $33 a few months ago. But now, the price is higher. However, we can say the oil price in next 12-18 months will not be as high as it was 2-3 years ago”. 

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