Axar.az
UP
19 February 2018


Azerbaijani manat rate to be stable during 2016

Home page Economy
12 Punto 14 Punto 16 Punto 18 Punto

The rate of Azerbaijani national currency, manat, will remain stable in the short term - during 6-12 months, says Dmitry Vasilyev, director for financial institutions at Fitch, a global ratings agency.

Vasilyev said that much will depend on the duration of low oil prices, the government's response to this situation [actions to be taken in response to the low oil price] and the amount of the current account balance.

"The export has dropped," Vasilyev told reporters in Baku April 13. "If the import drops, the current account balance will not be formed and perhaps, the pressure on the exchange rate can be avoided."

Vasilyev said that if the oil prices remain low for a long time and the export falls, then, accordingly, the pressure will be put on the current account balance.

"In this case, it will depend on the government and how much it is ready to spend to maintain the exchange rate of manat versus the US dollar," Vasilyev said.

Date
2016.04.13 / 16:40
Author
Axar.az
Comments
See also

Latvia detains central bank chief

Buffet's right-hand man pours scorn on Bitcoin

Bitcoin exchange rate surpasses $10,000

U.K. PM's trade envoy due in Azerbaijan

We are aware of tax avoidance cases by foreign companies

Cryptocurrency goes big in Japan

Wall Street sees worst week in two years

Oil price goes down more than 3%

Uber rejected $500 million settlement with Waymo

Israel designing diamond-backed cryptocurrency

Latest
 
Xocalı soyqırımı — 1992-ci il Bağla
Bize yazin Bağla
ArxivBağla