BAKU, Azerbaijan, Oct. 25
By Kamala Mammadli - Trend:
A complete transition to the floating exchange rate regime in 2020 is unlikely in Azerbaijan, Chairman of Azerbaijan's Central Bank (CBA) Elman Rustamov said at a press conference on Oct. 25, Trend reports.
"A full transition to the floating exchange rate regime was planned for 2020, but I think this is not entirely realistic," Rustamov said.
The prospects for the complete transition depend on the transition to inflation targeting, the chairman added.
The CBA chairman also noted that currently 27 out of 30 oil exporting countries adhere to a stable exchange rate.
According to Rustamov, other conditions for transition to the regime include the strengthening of the securities market and the increase in the banks' securities portfolio, as well as the interbank money market.
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