CBA for six months sterilized $ 1,209.3 million of excess supply of foreign currency
On the foreign exchange market in January-June, supply exceeds demand.
According to a review of the monetary policy for the first half of 2013 the Central Bank of Azerbaijan (http://cbar.az/assets/2916/PSI_2013_Q_2.pdf), made sterilization of excess supply of foreign currency in the amount of $ 1,209.3 million is almost twice as much (it was $ 639.4 million) than to the July 1, 2012.
Thanks to these measures manat for half a year strengthened versus the U.S. dollar by 0.06%. Standard devaluation of the local currency amounted to 0.02%.
The apparent stability of the manat positive impact on the environment of macroeconomic and financial sector of Azerbaijan - sums up the CBA. - 17D-
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- Economics
- 13 August 2013 16:45
Economics
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