Baku, Azerbaijan, March 11
By Azad Hasanli - Trend:
Currently, there are no sharp fluctuations of manat exchange rate in Azerbaijan, which would require urgent intrusion of the country's Central Bank (CBA), Natiq Amirov, Azerbaijani presidential aide on economic reforms, said March 11.
He made the remarks during the roundtable on AmCham Support to Economic Reforms.
Amirov said that the needs of the market will allow determining the objective rate of manat.
"In particular months, the import volume increases, for instance on the eve of holidays," he noted adding that with the growth of imports manat, of course, weakens, because the demand for dollars and euros increases.
The floating exchange rate policy serves to the fact that manat has to find its place [rate], added Amirov.
The CBA switched to the floating rate of manat on Dec.21, 2015 as a result of which the exchange rate of dollar and euro increased by 47.6 percent and 47.9 percent and stood at 1.55 and 1.685 manats, respectively.
The official exchange rate on March 11 is 1.6456 AZN/USD.