Azerbaijani Central Bank obtains some $2 billion for preventing rise of national currency price in 2013
Baku, Azerbaijan, Nov. 13
By Emin Aliyev - Trend: The Azerbaijani Central Bank (CBA) obtained foreign currency on the country's currency market worth $2 billion in order to prevent the further rise of manat's price. The chairman of the Central Bank Elman Rustamov said speaking at the country's Milli Mejlis (parliament) on Nov. 13.
"As is known, the exchange rate of the manat remains stable. Under the conditions when the country's payment balance surplus accounts for over 16 percent of GDP, as well as the high fiscal activity, we managed to prevent the quicker rise in price of the national currency. Today, the manat is the most stable and reliable currency of the region. The Central Banks of other countries has already expressed their interest in using of manat as one of the reserve currencies," Rustamov said.