Winners and Losers of a More Floating Exchange-Rate

The recent devaluation of Azerbaijani manat has given rise to uncertainty and skepticism among all economic sectors. While foreigners working in Azerbaijan are directly affected by the new exchange rate, the locals have already started recording their protest. Nonetheless, the Azerbaijani government has tried to paint a bright picture by underlining the long-term benefits of its sudden policy shift. The Central Bank of Azerbaijan insists that the...