Azerbaijan, Baku, 25 January / Trend / Azerbaijan could avoid the negative impacts of the fall in the world markets due to the low integration of the country's stock markets to the world markets, but the processes had non-indifferent impacts on the dynamic of the USD. The USD remains as key currently for Azerbaijan, which country receives from the oil projects and foreign trade operations and fills up the State reserves.
The fall in the world markets led to opposite movement of the USD. On 21 January the USD rose in relevant to the EUR, Japan yen and Russian ruble and demonstrates best indicators since the beginning of the year. The reason for the USD rise was the threats of delays in the economic growth in the European zone and possible reduction of the rates in the European Central Bank.
In Azerbaijan the USD demonstrates stability in relevant to AZN. Beginning the year with the indicator of AZN 0.8453 to USD, the USD rate changed only twice during this period. Thus, on 15 January the USD rose by one point and made up AZN/USD 0.8454, but later dropped to AZN 0.8453 and remained at this level by 21 January. However, after this, the USD once again rose by one point and is still remaining at this level. It means effective neutralization of the negative processes by the host market institutions.
However, it needs to expect further fall of the USD die to the delays in the US economic growth. The fall in the US economy will be continuing this year as well. In this case, the growing integration of Azerbaijan into the world economy will require the government to take decisive protection measures with regards to the monetary and currency policy.
(Ellada Khankishyeva, expert of Trend Analytic Center)