New wave of depreciation of the Azerbaijani national currency; reasons and expectations

New wave of depreciation of the Azerbaijani national currency; reasons and expectations Starting the mid of October 2016, the manat, Azerbaijan currency, has been depreciating against the dollar. The official rate of the manat against the dollar was 1.5969 on October 18 and it was fallen to 1.6381 on October 31, 2016. It means the manat’s official rate depreciated against the dollar by 2.5 % last 2 weeks, however, the real market price of the manat... Read More

Vugar Bayramov to the Bloomberg: “Dollar demand is expected to rise again by the end of the year in Azerbaijan”

Vugar Bayramov to the Bloomberg: “Dollar demand is expected to rise again by the end of the year in Azerbaijan” As the weeks ticked away before a referendum in late September on changing the constitution — with nary a televised debate or public polling — the Azeri authorities sprung into action after the manat depreciated for three months and panic stirred on the streets of the capital. The nation’s sovereign wealth fund,... Read More