BAKU, Azerbaijan, July 29. No changes are expected in the exchange rate policy of Azerbaijani manat against the US dollar until the end of 2022, Governor of Central Bank of Azerbaijan (CBA) Taleh Kazimov said at a press conference, on July 29, Trend reports.
"Currently, the CBA has no expectations to change the Azerbaijani manat rate by the end of 2022, considering the surplus in balance of payments and a sharp decline in demand at foreign exchange auctions," Kazimov said.
According to him, the volume of current purchases of cash currency by banks from the population exceeds its sales.
"The population sells more foreign currency than it purchases. The growth of money transfers to Azerbaijan also affects this situation," Kazimov noted.
Banks purchased cash in the amount of $109.8 million in June 2022, which is the highest figure in last seven years, Kazimov said.