S&P forecasts manat will remain stable

S&P forecasts  manat will remain stable
# 27 March 2020 11:25 (UTC +04:00)

"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.

#
#

THE OPERATION IS BEING PERFORMED