Azerbaijani Economy 16 may — 11:05

Central Bank about manat rate again

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'There are no prerequisites for changing the rate of the manat in Azerbaijan,' First Deputy Cchairman of the Central Bank of Azerbaijan (CBA) Alim Guliyev told reporters at the FINTEX summit held in Baku on 'New trends in banking and the payment ecosystem: innovative solutions, financial technologies and security.'

'For the stability of the manat today there are all economic grounds. Our foreign exchange reserves, the situation in international commodity markets allow us to ensure macroeconomic stability and there is every reason to maintain the manat rate at a stable level,' said Guliyev.

It should be noted that in 2015-2016, as a result of two devaluations, the manat fell more than twice against the dollar. In 2017, the manat strengthened against the dollar by four per cent due to the monetary policy pursued by the CBA.

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