On Saturday, February 21 manat fell to 1.05 manat per dollar and to 1.19 manat per euro. Such a sharp devaluation of the national currency caused a panic in the society that was too long told that the country's financial system is perhaps the most stable in the world. The head of the CBA made encouraging statements that "all is quiet in the Kingdom" and declared the stability of the manat.There seemed not to be objective reasons to reduce the rat...

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