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CBA starts to take measures on shift to floating rate regime

01 August 2018 09:52 (UTC +04:00)

Measures are being taken on shift to floating rate regime, Chairman of Central Bank fo Azerbaijan (CBA) Elman Rustamov said at the conference.

‘I’d like to say that there are few countries with floating rate regime. We have plans. In order to switch to the floating rate regime, it’s needed to create condition for it. Export should be diversified. Floating rate regime means that the exchange rate should be formed by demand and supply. Floating rate regime requires liberal, diversified currency market. Diversified currency market can be formed in the mid-term period. In accordance with this, we can switch to the floating rate regime by taking other measures’, he said.