IMF recommends to go on with flexible rate policy to NBA

Business Materials 29 December 2005 13:39 (UTC +04:00)

The National Bank of Azerbaijan (NBA) does not rule out certain possible strengthening of the national currency rate against US Dollar also in 2006. The NBA policy is based on the consumer prices stability and therefore regulation of the rate is a secondary goal, the NBA director general Shahmar Movsumov told Trend. В"However, this year certain strengthening was observed as the result of a large currency inflow. Quite possible, in the following year certain strengthening will also take place”, Movsumov noted.

Along with this, he considers that NBA does not conduct the rate regulating policy, the rate goes as controlled and floating. The exchange rate strengthened in 2005 by about 6,3-6,4%. В"It is not related to the NBA policy, it happened by itself. We followed the inflation process, but inflation and the rate are two conflicting goals at the certain moment”.”, Movsumov thinks.

On the results of the year, the inflation is expected at the level of 9,7-9,8 %, the Finance Minister Avez Alekperov told Trend.