Baku, Azerbaijan, Oct. 31
By Azad Hasanli – Trend:
The Central Bank of Azerbaijan (CBA) does not rule out the possibility of further strengthening of the manat rate, CBA Chairman Elman Rustamov told reporters in Baku on Oct. 31.
“Today we see that the manat rate is going towards strengthening, because the balance of payments is very good, oil prices are favorable,” said Rustamov.
The exchange rate of Azerbaijan’s national currency, the manat, against the US dollar has strengthened by almost 4 percent since the beginning of 2017, and is set at 1.7002 manats/$1 for Oct. 31.