Vahid Ahmedov: Change Exchange Rate Policy of CBA

The exchange rate policy of the Central Bank of AR has been the subject of today's discussion at the plenary session of the Parliament.

Member of the Parliamentary Committee on Economic Policy, MP Vahid Akhmedov said that there are grounds for criticism. "So, from January 15 to April 1, currency reserves fell from $ 15 to $ 9 billion. The main financial regulator must exercise a soft, less tangible devaluation of the manat to avoid undermining the confidence of depositors. Otherwise, it will create serious problems for him and for the local economy as a whole," he said.

According to him, soon reserves of CBA can dry out if it does not reconsider its own exchange rate policy.

Recall the first wave of devaluation of the manat, announced on February 21, it weakened against the US dollar by 33.5% (1.05 manat to $ 1 against 0.7862 manat to $ 1 on February 20).

Today the ratio of the official exchange rate of manat to the US dollar is 1.0514 to $ 1. --17D-

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