Manat Continues to Depreciate
. The depreciation of the manat continued at the Central Bank's currency auction.
According to Turan, the auction began with a rate of 1.7339 manat and finished with 1.7369 manat per US dollar.
At the same time due to non-transparent information policy of the Central Bank, the ratio of supply and demand is not clear.
Meanwhile, commercial banks buy US currency for 1.80 and allegedly sell it for 1.8032 AZN. But in fact, they have not sold the currency for already a third week, because of which the “black market”, where the dollar is sold at the rate of 1.85 AZN, is thriving. -71D-