Azerbaijan’s manat stands strong in face of storms?

Azerbaijan’s manat stands strong in face of storms? Recently the most frequently asked question is how long manat will continue to appreciate. While at the beginning of 2016 the exchange rate of manat was 1.5610, national currency saw its value to increase to 1.4906 on the last day of May. That is to say, manat losing its value by 48% following second devaluation, was able to appreciate by 4% during last 5 months. This appreciation rate is lower... Read More

Falling Oil Prices and Declining of Currency Reserves

Falling Oil Prices and Declining of Currency Reserves Caused by oil price decline in the world market, Central Bank’s intervention costs have decreased since August 2014 in Azerbaijan- Center for Economic and Social Development (CESD) reports. According to the official data of Central Bank of Azerbaijan Republic (CBAR), which published on January 08 2015, decline has been observed in both total reserves and currency reserves. CESD underlines that... Read More