"Strengthening Azerbaijani currency supported by credible economic factors"

The trajectory of Azerbaijan's development is stable and backed by real and objective economic growth factors, Azerbaijani Association of Banks (AAB) President Eldar Ismayilov said today. A slight fluctuation of the manat will not make any significant changes, he said.

The official exchange rate defined by the Central Bank of Azerbaijan (CBA) reached a historical low of 0.7997 manat to $1 today.  In early 2010, the official exchange rate of the dollar against the manat was 0.8029 manat to $1 and 0.8032 manat to $1 on Nov. 5, 2009. The figure decreased by 0.39% and 0.44%, respectively.

"At this stage, it may be appropriate to change the course toward strengthening the manat based on the CBA policy and I think that the manat will be further strengthened," Ismayilov said.


/Trend/