Nominal effective rate of manat cheapened by 10.1% in 6 years
The National Bank of Azerbaijan confirmed cheapening of nominal effective rate (NER) of manat related to currencies of Azerbaijans trade partners during June 2006 compared to December 2005.
NBA officials told Trend the rate decreased by 1.5 percent in total trade turnover, by 0.7 percent in import and 2 percent in export. NER rose by 3.6, 4.1 and 3.1 in respective spheres over year.
According to the NBA, manat NER in non-oil sector rose compared to December 2005 by 0.4%, 1.3% and fell by 0.2% in respective spheres. NER also showed a year-over-year increase of 6.1%, 6% and 5.3%, respectively.
During June 2006, manat NER in foreign trade (with account for oil sector) decreased by 10.1 percent and rose in non-oil sector by 3 percent compared to December 2000.