Azerbaijan will continue to adhere to stable manat policy: CBA head
Azerbaijan, Baku, October 21 / Trend N. Ismayilova /
In the post-crisis period, Azerbaijan will continue to adhere to the policy of stable manat, the chairman of the Central Bank of Azerbaijan (CBA) Elman Rustamov said on Oct. 21.
"Our policy remains the policy of stable manat, which during the crisis made up the main anchor of economic stability as compared to the national currencies of other countries, said Rustamov. - In the post-crisis period, we will also need a stable manat in order to accelerate economic development and eliminate the effects of the crisis.
According to Rustamov, the experience of other countries shows that the devaluation of national currency does not lead to anything, except high inflation. In these countries the real economy does not reach the competitiveness due to high inflation, which also creates additional problems for the population and budget.
"Stable currency is the desired figure, and now we're trying to ensure it, since our economy and currency show that they are able to meet these requirements," said Rustamov.
Official rate on Oct. 21 is 0.8031 AZN/USD.
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