BAKU, Azerbaijan, October 18. Azerbaijan is expected to maintain a stable exchange rate of the manat against the US dollar at approximately 1.7 manat per dollar until at least the end of 2028, Trend reports via the Ministry of Finance's data.
The Ministry of Economy's forecast predicts that the manat's exchange rate will stay at its current level from 2025 through 2028.
"In the macroeconomic forecasts presented by the Ministry of Economy, it is anticipated that the exchange rate of the manat to the US dollar will stay stable and aligned with this year's level," the ministry said.
Analysts from Dutch ING also predict that Azerbaijan will continue to maintain a de facto peg of the manat to the dollar at the rate of 1.7 manat to one dollar at least until the end of 2026.
Additionally, international rating agency S&P Global Ratings and the Asian Development Bank share expectations that the national currency will remain linked to the dollar through 2026.
To note, the Central Bank of Azerbaijan fixed the manat's exchange rate at 1.7 manat to the dollar in 2017 as a measure to control inflation.