CBA chairman: Manat rate may rise by year-end

CBA chairman: Manat rate may rise by year-end
  • Clock-gray 09:22
  • calendar-gray 31 October 2017

According to him, het floating exchange rate regime is based on existing economic realities and international practice: “Today, many countries are preparing for switching to this regime. This regime is the most effective measure for Azerbaijan’s development and resistance against external shocks. It has no alternative. Stability in the market shows that this regime has justified itself”.

 

Touching upon the strengthening of manat rate in the recent times, Rustamov noted that this was affected by factors such as improvement of situation of the balance of payment, rise in oil price: “Positive tendencies show that manat rate has may rise by the year-end”.  

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