What to expect from the monetary policy of the Central Bank of Azerbaijan?

What to expect from the monetary policy of the Central Bank of Azerbaijan? The Central Bank of the Republic of Azerbaijan has announced that, a tight monetary policy is to be carried on. That is to say, the Central Bank will try to decrease the demand for USD by limiting monetary base. Although the implementation of the contractionary monetary policy since the oil price slump failed to stabilize the exchange rate of manat, the Central Bank does not... Read More

New Decline in the Azerbaijan’s currency reserves

New Decline in the Azerbaijan’s currency reserves The Central Bank of Azerbaijan (CBA) has reported that foreign currency reserves declined from $ 8.52 billion US in June 2015 to $ 8.43 billion US in July 2015. Decline of CBA currency reserves in July 2015 totaled $18.9 million US (-0.2%). In 2015 their fall is still $5.257 billion US (-38.2%). Since August 2014 they have fallen by $ 6.69 billion US (-44%). For comparison, CBA currency reserves... Read More

Devaluation of Azerbaijani National Currency; Causes and Consequences

Devaluation of Azerbaijani National Currency; Causes and Consequences Starting from February 21st, 2015, the official exchange rate of the dollar to the manat, Azerbaijani national currency, has been set at 1.05 manat, which is 33.86 percent more than the exchange rate set before the beginning of the weakening process of the rate. Azerbaijani national currency has been depreciated against US dollar the first time since 2006. Central Bank of Azerbaijan... Read More