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Azerbaijan’s National Bank Announces Forecasts for AZN Rates

Business Materials 10 December 2007 20:42 (UTC +04:00)

Azerbaijan, Baku / corr Trend U.Ismayilova / The impact of foreign currency on Azerbaijani AZN will comprise 3-3.5% by the end of the year, Elman Rustamov, the chairman of the Managing Board of the National Bank of Azerbaijan (NBA) said on 10 December.

"Nevertheless, this process is regulated by the market and the NBA will use every possible means to avoid steep jumps," Rustamov said.

In 2007 Rustamov said that the currency flow in the country will comprise $7bln, testifying the consolidation of AZN, whereas NBA will take its utmost to eliminate the appearance of any problem for local producers.

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