S&P forecasts manat will remain stable

S&P forecasts  manat will remain stable
  • Clock-gray 11:25
  • calendar-gray 27 March 2020

"S&P Global Ratings expects amid the volatile oil price environment, Azerbaijan will retain the manat's de facto peg to the U.S dollar at AZN1.7 manat to $1, supported by the authorities' regular interventions in the foreign currency market, APA-Economics reports citing the Agency.

 According to agency, should oil prices remain low for a prolonged period, the authorities could allow the exchange rate to adjust to avoid a similar substantial loss of foreign currency reserves as in 2015.

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