BAKU, Azerbaijan, December 23. The rate of the Azerbaijani manat is expected to remain tied to the US dollar rate at least until 2026, Trend reports citing the report of the Asian Development Bank.
According to the report, this will be due to a significant decrease in pressure on the manat.
"The assets of the State Oil Fund of Azerbaijan (SOFAZ) will be sufficient to maintain the demand for foreign currency," said the bank.
According to the report, the Central Bank of Azerbaijan fixed the exchange rate of the national currency against the US dollar at the level of 1.7 manat in 2017 in order to control inflation.
In addition, according to the bank's forecasts, inflation in Azerbaijan will be 5.2 percent in 2022, 4 percent in 2023, 3.3 percent in 2024, 2.9 percent in 2025, and 3.2 percent in 2026.