Experts have responded to the trend rise in the value of US dollar in Azerbaijan. The economist Samir Aliyev on his Facebook page said ordeal expects AZN by the end of the year. "I hope our currency will survive with minimal losses," he wrote.
As a minimum loss expert believes the dollar at the level of AZN 1.80.
The economist Natig Jafarli is more skeptical. He believes that by the end of the year the dollar will rise to 1.90-1.95 manat.
"It turned out that early presidential election will not happen. And right after that the dollar began to rise. Thus it is necessary to consider that during those days, oil has risen to 52-53 dollars. Once again it becomes clear that our rate of manat is not linked to any economic logic. If the political factor (the expected extraordinary presidential elections – Ed.) in the strengthening of AZN is canceled, then by the end of the year the dollar exchange rate will amount to 1.90-1.95 manat," Jafarli said.
Note that for the third consecutive day, the dollar has been rising. On October 18 the dollar exchange rate was 1.5969 AZN. However, after a three-day rise in price the official rate of the US currency was 1.6091 AZN on October 21.
In parallel with the growth rate banks also contribute to complicate the situation. So, immediately after the rise in price of the dollar, three banks - Respublika, VTB and Nakhchivan have suspended the sale of foreign exchange.
Previously, experts predicted that in November-December, the dollar will rise, due to the beginning of the period of execution of external liabilities of banks and companies.
Recall that after the two devaluations the highest dollar was recorded on March 11, 2016 - 1.6456 AZN, while the lowest one was on 26 May - 1.49 manat.
From 26 May to 9 September the dollar grew steadily and stood at 1.6403 AZN.
Then, after several major interventions of the Central Bank and the State Oil Fund there has been a consolidation of the manat and the dollar stood at 1.5969 AZN as of the 18th of October. -----71D
Economics
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