“USD, which went up in January and first half of February, has started to decline since the second half of February. As of February 1, 2017, the USD reached AZN 1.9200 while it was AZN 1.7707 as at end of 2016. As of March 23, 2017 the exchange rate of USD made up 1.7200. As at the end of the first quarter, the USD declined 2.6%. During the quarter, 1 USD made up AZN 1.7848”, the bank said.
According to the document, dynamic of bilateral exchange rates affected the dynamic of multilateral exchange rate. So, real effective exchange rate of manat on non-oil sector rose 3.6%.