TODAY.AZ / Business

USD rate forecasted to constitute 4,000 manat/$1 by this year

24 June 2006 [10:17] - TODAY.AZ
Strengthening of national currency will continue till this year's end and in connection with the changes were made to the state budget in May, revaluation is forecasted to be two-digit.

As APA reports, Azerbaijan National Bank (ANB) Managing Staff deputy chair Alim Guliyev told journalists that it is not ruled out that inflation may also be two-digit by this year's end.

Touching on information spread on money deficiency in the country, Mr.Guliyev said that ANB has enough money reserve which is sufficient for three years and new denominated currency comprises 65% on the circulation.

Last year rate of USD decreased 6.4% to some 4600manat/$1 but the rate is expected to form 4000 manat/$1 this year.

ANB officer also said that central automated system will shortly start and other treasuries will be connected to this system.

"After connecting to this system, expenditures will be calculated in one center and treasuries will conduct all calculation in the account of the central treasury.

Treasury of Khachmaz region has already been connected to central automated system."


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