US Dollar Crosses Psychological Barrier of AZN 1.05
As expected, the rate of national currency against the US dollar exceeded the "psychological barrier" of 1.05 manat, established on February 21 (the day of the first wave of devaluation).
The Central Bank decided this morning on the official exchange rate of 1.0501 manat (until Friday, 6 November, it was no more than 1.0498 manat). According to experts of Turan, so the CBA is "softly" preparing the population for a second wave of devaluation of the manat, but does not do it immediately, as it was in February, which caused a stir in the financial market, including the banking sector, but in stages.
It is noteworthy that the euro did not fall against the dollar today, but the Central Bank lowered its 1.1424 AZN of 6 November to 1.1281 manat today. Though the structure of the currency basket is not made public, it is necessary to do calculations on the currency, in which mutual settlement operations are conducted on the bilateral trade turnover. The foreign currency investments of the State Oil Fund (SOFAZ) are also accumulated in USD by a half. --17D-
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- Economics
- 10 November 2015 19:47
Economics
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