The first in 2017 foreign exchange auction demonstrated perseverance of CBA in offering the amount of US dollars far below the demand, the economist Natig Jafarli said.
In his opinion, this tactics contributes to the prosperity of the black market and the official rate is meaningless.
Jafarli stressed that the main task of the Central Bank is to restore the currency free trade, otherwise prices will grow at a faster pace, shops and pharmacies will eventually become empty, the remaining investors will flee the country, and the difference between the official and the real exchange rate will significantly increase.
“The Central Bank should cancel the already meaningless margin of 4% give freedom to the banks and create conditions for the restoration of currency exchange. There is no other option. It is unacceptable in the exchange rate policy to turn the country to Turkmenistan or Uzbekistan. This is very dangerous,” Jafarli said.
Recall that at the first currency auction in 2017 the dollar rose from 1.7707 to 1.7742 manat. ----71D
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