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Fed decision may have impact on Azerbaijan in mid- and long-term period â€“ central bank

15 December 2016 10:14 (UTC +04:00)

According to the bank, these processes may have psychological impacts on currency market of Azerbaijan: “However, there is not any economic ground for this. So, currently, the exchange rate of the US dollar changes depending on demand/supply ratio. The demand/supply ratio in the foreign currency market depends on balance of payment and oil transfers. Generally, the decision affects countries having speculative capital inflow in a large volume in the short-term period. As Azerbaijan has not speculative capital inflow in the large volume, no changes are expected in Azerbaijan under the influence of the Fed’s decision. As well as, this decision does not directly affect the manat rate”.

The bank also said that Fed decision may have impact on the countries like Azerbaijan in the mid- and long-term period: “In order to regulate these impacts, Azerbaijani government and Central Bank are and will taking macroeconomic stability measures”.