AAB: Strengthening Azerbaijani currency supported by credible economic factors
Azerbaijan, Baku, Nov. 5 / Trend N.Ismayilova /
The trajectory of Azerbaijan's development is stable and backed by real and objective economic growth factors, Azerbaijani Association of Banks (AAB) President Eldar Ismayilov said today. A slight fluctuation of the manat will not make any significant changes, he said.
The official exchange rate defined by the Central Bank of Azerbaijan (CBA) reached a historical low of 0.7997 manat to $1 today. In early 2010, the official exchange rate of the dollar against the manat was 0.8029 manat to $1 and 0.8032 manat to $1 on Nov. 5, 2009. The figure decreased by 0.39 and 0.44 percent, respectively.
"At this stage, it may be appropriate to change the course toward strengthening the manat based on the CBA policy and I think that the manat will be further strengthened," Ismayilov said.
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