BAKU, Azerbaijan, November 18. Azerbaijan has no goal of switching to a floating exchange rate, the country's Central Bank (CBA) Governor Taleh Kazimov said during a meeting of the Parliamentary Committee on Economic Policy, Industries, and Enterprising on the draft law "On the state budget of Azerbaijan for 2025" today, Trend reports.
He explained that the CBA is mandated primarily to ensure macroeconomic stability.
According to him, a regime suitable for achieving this goal will be chosen.
"Today, together with the government, we believe that a fixed exchange rate regime is the most favorable for ensuring macroeconomic stability.
We do not have the goal of transitioning to a floating exchange rate in 2025 and the following years. The exchange rate is projected at 1.7 in budget and medium-term expenditures this year and in the coming years.
In the medium term, we also consider the fixed exchange rate regime to be favorable for ensuring macroeconomic stability,” the official added.
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