The bank noted that this decision will not directly affect the manat rate: “If this decision causes change in oil price after a certain time, then this factor may have impact on the balance of payment of the country”.
“The Federal Reserve’s decision may affect the countries like Azerbaijan in the mid- and long-term period. In order to regulate these impacts, the government and the Central Bank takes and will take adequate measures for macroeconomic stability. Expectations on increase of dollar in the world market after the Federal Reserve’s decision do not justify themselves yet. Psychological impacts of these processes on the country’s currency market as an expectation are not excluded. So, in accordance with the current exchange rate regime in the country, the USD rate against manat is formed depending on demand and supply in the market. Demand-supply ratio in the foreign currency market is mainly formed depending on the situation of the balance of payment”, the bank said in the statement.