BAKU, Azerbaijan, April 18. Stabilization of the Azerbaijani manat’s exchange rate amid the expansion of supply channels in the local foreign exchange market curbs inflation level and inflation expectations, the Central Bank of Azerbaijan (CBA) said on Twitter, Trend reports.
According to the CBA, growth in world prices for the main export commodities can lead to the growth of Azerbaijan's payment balance by 10 and more percent relative to GDP by the end of 2022, which is the main factor maintaining the balance in the foreign exchange market.
"The rise in prices for Azerbaijan's main export commodities increases the positive balance of payments, which maintains the stability of the national currency as the main anchor of price stability, and curbs the prices," added the CBA.