Experts Positively Assess Abolition of 4% Margin of Exchange Rate for Banks

Economic experts positively regarded the Central Bank's decision to cancel a 4% margin in establishing foreign exchange rates in commercial banks.

Although the decision has not yet entered into force, as it can be seen from the signals coming from the banks it will happen soon.

The economist Natig Jafarov on his profile on Facebook, touching upon this decision, pointed out that he had long been talking about it.

“Despite the fact that the President accuses us of incompetence, he listens to our advice. In any case, it is a positive fact,” he said.

The banking expert Akram Hasanov also praised the decision to cancel the 4% margin, and noted that it is the beginning of the path to a floating rate.

“In this case, the Central Bank intervention is rare and partial. We can say that we have really started a floating rate,” he said.

According to him, if the Central Bank's intervention is frequent, there will be no floating exchange rate. He noted that the last option is unlikely because the Central Bank does not have as much currency.

But the economist Samir Aliyev believes the complete abolition of the margin should be for a short time to increase the margin to 6-8%.    -71D-