The Central Bank of Azerbaijan (CBA) does not currently intend to ease or change the existing requirements regarding foreign currency purchases and sales, CBA Governor Taleh Kazimov said at a press conference dedicated to the monetary policy decision, APA-Economics reports.
According to him, no strict restrictions are currently imposed on foreign currency purchases and sales. The existing requirements mainly concern the monitoring of transactions and documents confirming the source of manat funds used to purchase foreign currency.
The CBA Governor noted that he was surprised by claims that it is impossible to purchase foreign currency if only one person in a family is employed. He did not rule out the possibility that some currency exchange offices may not be properly explaining the requirements to customers.
Taleh Kazimov stated that demand for foreign currency may also increase as economic activity grows. For this reason, he does not consider it appropriate to frequently change the rules in response to short-term market fluctuations.
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