CESD Research Brief: Should we expect a change in the rate of Azerbaijani manat in context of high demand for US dollar?

CESD Research Brief: Should we expect a change in the rate of Azerbaijani manat in context of high demand for US dollar? In January-February of 2019, activity in foreign exchange markets has further escalated. According to the information provided by the State Oil Fund of Azerbaijan (SOFAZ), during the corresponding period 951 million US dollars were sold, including 634.9 million in January and 316.2 million in February. This is 47.2% higher than... Read More

The national currency rate of Azerbaijan: after the presidential elections

The national currency rate of Azerbaijan: after the presidential elections The subsequent destiny of the national currency’s (manat) exchange rate (after the presidential election in the Republic of Azerbaijan, April 11, 2017) is one of the main topics of public debate in recent weeks, as well as the main focus of the mass media. The main issue that disturbs public opinion is that following the election, changes in the exchange rate policy of... Read More

The Saturday Syndrome: Roots of mistrust toward the exchange rates in Azerbaijan

The Saturday Syndrome: Roots of mistrust toward the exchange rates in Azerbaijan A New Manat depreciation” panic affected everyone in the country, starting from ordinary citizens to the government officials, businessmen and bank managers. The public panic happened despite the fact that around ten days ago, the head of the Central Bank announced “The currency market has been stabilized, manat has found its equilibrium in the market. Download Full... Read More

Azerbaijani Central Bank’s reserves knock “the read-line”: Next devaluation is at the door

Azerbaijani Central Bank’s reserves knock “the read-line”: Next devaluation is at the door The Central Bank of Azerbaijan (CBA) lost $ 127.0 million US of its foreign currency reserves in October 2016 due to high demand for foreign currencies. CBA’s foreign currency reserves declined to $ 4,005 billion US in November 1st, 2016 from $ 4,132 billion US in October 1st, 2016. Due to law oil price in the world market, high demand for foreign... Read More

How long will the dollar continue to appreciate against the manat?

How long will the dollar continue to appreciate against the manat? Recently, the frequently asked questions are mostly related to the causes of the depreciation of the manat and at what level and how long the dollar may appreciate. If 149 manat was needed in order to purchase 100 dollars on 25th of May, more than 152 manat is paid per 100 dollars on 20th of June 2016. This implies that the national currency has depreciated by more than 3 manats officially... Read More