Real effective rate of Azerbaijani manat cheapens in total trade turnover
Azerbaijan, Baku, July 1 / Trend N. Ismayilova /
According to the Central Bank of Azerbaijan (CBA), taking into account the oil sector, in January-May 2009 the real effective rate (RER) of manat in relation to the currencies of country's foreign partners cheapened 1.8 percent compared to December 2008, in import - 1.4 percent and in export - 2.3 percent, a source at the CBA said on July 1.
Researches showed that the impact of Russia's share on increase of the RER in the external trade (including oil sector) during January-May 2009 was 4.4 percent, Kazakhstan - 17.7 percent, Israel - 1.4 percent, Japan - 4.4 percent. But U.S share made decreasing impact on the RER in the amount of 3.2 percent, European zone - 3.6 percent, England - 7.4 percent, Ukraine - 9.5 percent, Georgia - 4.1 percent, Iran - 7.2 percent, China - 3 percent, Turkey - 2.8 percent.
RER cheapened 0.5 percent in total trade turnover of the non-oil sector in January-May compared to December 2008, import - 0.7 percent, export strengthened 0.5 percent.
Manat's nominal rate cheapened as compared to the currency of China, Iran, Georgia, Ukraine, England, European currencies but really strengthened as compared to the currencies of the Russia, Kazakhstan, Japan and Israel.
On July 1, 2009, the official exchange rate is 0.8042 manat to $1.
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