The Central Bank of Azerbaijan (CBA) from January to April in the foreign exchange market acquired $ 536 million (down 36.5 % compared to the figures for April 1, 2013 ) in order to maintain the exchange rate of manat .
As stated in the materials quarterly review of monetary policy on the site of the CBA, during this period offer in the forex market has exceeded demand, because in order to avoid a substantial strengthening of the manat , and to neutralize the negative impact on the competitiveness of non-oil sector acquired in the market foreign currency in the amount of $ 536 million.
The document stresses that as a result of these measures, the rate of the manat against the U.S. dollar strengthened during the reporting period by only 0.03%.
According to the CBA, the average rate of manat in January-March 2014 amounted to 0.7844 manat to 1 U.S. dollar.
Last year the CBA to maintain the national currency purchased foreign currency for 2 billion 457 million manats. During this period, in relation to the U.S. dollar AZN appreciated by 0.06 %. - 17D-
Economics
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