BAKU, Azerbaijan, Dec. 14
By Nazrin Israfilova – Trend:
The weakening of the Turkish lira has little impact on the financial system of Azerbaijan, Vice President - Senior Credit Expert of the international rating agency Moody's Olga Ulyanova told Trend.
According to Ulyanova, the national currencies of Turkey and Azerbaijan are not directly related to each other.
"At this stage, both countries are faced with different sets of the balance of payments dynamics. We expect that the Azerbaijani manat will be supported by relatively high oil prices, which will lead to a current account surplus. The weakening of the Turkish Lira has little impact on the financial system of Azerbaijan since the mutual risks of the banking systems of the two countries are rather limited," she said.
The rate of the Turkish lira against the US dollar fell by almost three percent. Currency trading on December 13 opened at 13.81 Turkish Lira per US dollar. Then the rate amounted to 14.18TL / 1USD.
Experts attribute the fall in the Turkish lira exchange rate to a new decrease in the discount rate expected on December 16 by the regulator.