Central Bank: Manat stability accompanied by decline in dollarization

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# 08:33
19 September 2017

According to the Central Bank of Azerbaijan, this was caused by increase in oil prices and a reduction in the current account deficit on the non-oil sector as a result of macroeconomic policies. In January-August 2017, the surplus of the foreign trade balance amounted to 1.9 billion dollars, the country's strategic currency reserves grew by 11.5%.


On the background of the surplus of the balance of payments, the exchange rate of manat is stable, and the foreign exchange market is balanced. "The manat rate has strengthened since the beginning of the year, which has a restraining effect on inflation. The stability of the manat exchange rate is accompanied by a reduction in dollarization. "

 

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