BAKU, Azerbaijan, December 7. S&P Global Ratings analysts are betting that Azerbaijan will hold the manat's de facto peg to the US dollar steady at 1.7 manat to one US dollar this year, Trend reports.
Analysts say that this will hinge on a notable easing of the squeeze on the manat.
To note, the Central Bank of Azerbaijan fixed the exchange rate of the national currency to the US dollar at 1.7 manat in 2017 to control inflation.
While, ING and Asian Development Bank analysts expect the national currency to remain pegged to the US dollar until 2026, Azerbaijan’s Ministry of Economy projects that the peg will hold at 1.7 manat per dollar until the end of 2028.
S&P Global Ratings is an American credit rating firm and a subsidiary of S&P Global that disseminates financial research and analysis on equities, fixed-income securities, and commodities. The organization, functioning as a credit rating agency, assigns credit ratings to the debt of both public and private entities, as well as to public debtors, including governments, governmental agencies, and municipalities.
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