Azerbaijani manat to receive sign for strengthening - forecast (Exclusive)
Baku, Azerbaijan, Oct. 5
By Taleh Mursagulov - Trend:
Azerbaijani manat will receive a sign for strengthening in the short term, Zhannur Ashigali, associate director of the Sovereign Ratings and Forecasting Group at ACRA (Analytical Credit Rating Agency), told Trend Oct. 5.
He said that in the short term, the pressure on the exchange rate of the manat towards its weakening is unlikely.
“On the contrary, the manat will rather receive a short-term signal for the strengthening, just like other national currencies of countries with oil economies,” he noted.
At the same time, he noted that more noticeable fluctuations of the manat’s exchange rate are expected in the medium term, but in general, the rate shouldn’t change much until the end of 2018 and in the first half of 2019, being in the range of 1.68-1.7 manats per US dollar.
Earlier, ACRA predicted strengthening of the average annual exchange rate of the Azerbaijani manat against the US dollar to 1.67 manats in 2022.
(1.7 manats = 1 USD on Oct. 5)