Vugar Bayramov: Demand for USD to Rise

Baku / 21.08.18 / Turan: At the currency auction of the Central Bank on Tuesday the US dollar rate did not change, remaining at the level of 1.700 manat.

Commercial banks buy the US currency in the range of 1.6950-1.7000 manat, and sell it at 1.7020-1.7030 manat.

The official euro exchange rate increased from 1.9423 manat to 1.9602 manat on August 21, compared with the previous day.

Commercial banks buy euro at 1.9450-1.9580 manat, and sell it in the interval of 1.9730-1.9800 manat.

Economist Vugar Bayramov, on his page in the social network Facebook, referring to the depreciation of the Turkish lira and the Russian ruble, noted that all this caused an increase in demand for the US currency in Azerbaijan.

"As predicted before the end of the month, demand for the dollar will remain high. However, it can be seen that the Central Bank is trying to continue the stable AZN course, but the situation with RUR may force the Central Bank to make adjustments to the future monetary policy. In general, starting from the second half of November, demand for USD will grow again," Bayramov said. -71D-