"Sharp decline of US dollar rate towards manat is a negative factor in production and affects negatively export stimulation. However, it is good for the companies, engaged in the import of goods, manufactured abroad", Minister of Economic Development Farhad Aliyev told journalists, Trend reports.
"Subsequently, measures, taken for the manat strengthening, may bring to unemployment, closure of enterprises, engaged in goods export abroad. Such sharp decline of the US dollar rate may also affect the interest to production. However, one should take into account, the issue of the inflation management is also an important matter.
All these must be synchronized, i.e., measures are to be taken for the inflation not to grow and the enterprises not to be closed. I am confident, such sharp strengthening of manat will not be going onвЂќ, Minister noted.
The current rate of manat towards US dollar commenced with the 4903AzM/$1 index. For 8 August the rate is 4674AzM/$1.Thus, strengthening of the manat rate in the current year was 229 points. In 2004 the strengthening of rate was 20 points.