Manat consolidates?

Manat consolidates?

“The European Central Bank has made a decision.”

The European Central Bank has made a decision. Deposit rate on deposits was reduced from -0.2% to -0.3%.

Oxu.Az reports that the statement came from the economic expert Vugar Bayramov.

“Contrary to the expectations of foreign investors, the main bank of the European continent has announced its not very aggressive policy. The unexpected decision of the above-mentioned bank in the true sense of word, shook the foreign exchange market. So, the euro has risen in price from $ 1.06 to 1,093, ie just one day euro has risen in price by 3%.

The consolidation of euro to some extent will also strenghten manat. Thus, the consolidation of euro against dollar is weakening of manat against euro and its strengthening against dollar,” the expert said.

According to him, for the first time last month, manat has consolidated significantly against dollar:
“From this point of view, we can assume that the Central Bank of Azerbaijan has strengthened mant again against dollar. And if euro continues to consolidate on the world market, the manat will continue to strengthen against the dollar.”

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