Azerbaijan, Baku, Oct. 12 / Trend I.Khalilova N.Ismayilova /
The Central Bank of Azerbaijan (CBA) is observing the return of foreign currency, which was earlier circulated to stabilize the exchange rate of manat in the crisis period, from the domestic currency market of Azerbaijan, CBA Chairman Elman Rustamov said on Tuesday while discussing the draft 2011-state budget at a plenary session of the parliament.
"Many countries faced with the devaluation and default at a time of the global financial crisis, but Azerbaijan managed to keep a stable exchange rate of manat," Rustamov said.
Rustamov said the CBA has received funds exceeding $1 billion from the domestic currency market over a year and now expects to obtain the doubled volume by late 2010.
The exchange rate of the U.S dollar is predicted to reach 0.804 manat in 2011.
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