BAKU, Azerbaijan, November 1. The nominal effective exchange rate of the Azerbaijani manat has strengthened by 21.6 percent over 10 months in 2023, Trend reports via the Central Bank of Azerbaijan (CBA).
"The analysis shows that this factor played a special role in limiting import inflation. At the same time, the work done by the government, including the implementation of measures stipulated by the resolution of the Cabinet of Ministers of Azerbaijan "On additional measures to strengthen monitoring of inflation and prices", contributes to reducing inflation," the CBA said.
In addition, as the governor of the Central Bank of Azerbaijan, Taleh Kazimov said earlier, the reduction of inflation is possible thanks to the stable exchange rate regime.
"We have been focused on preventing excess demand, especially for a year and a half. We have tightened monetary policy and also taken measures to tighten our macroprudential requirements," he said.
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