CBA: Azerbaijani government sees no risks for manat rate
Baku, Azerbaijan, Sept. 19
By Azad Hasanli - Trend:
The Azerbaijani government does not see any risks for the manat rate, Elman Rustamov, chairman of the Central Bank of Azerbaijan (CBA), told reporters in Baku Sept. 19.
"Today, Azerbaijan has a floating exchange rate of manat,” he said. “The positive trend is usually formed due to the surplus of the current account of the balance of payments. Today we expect that the current account surplus will amount to about $1.5-2 billion.”
“An important question is that how much would the strengthening of manat would be in line with the economic strategy, in particular, export diversification, but so far we do not see such risks," Rustamov said.
Rustamov stressed that so far, the Azerbaijani government has been satisfied with the current trends in the country’s economy.
"Today I have been asked about a possible devaluation,” he said. “The question has surprised me greatly because I am shocked that there is still such an opinion that devaluation is possible."