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

Vugar Bayramov: “Azerbaijan Will Most Probably Move to Liberal Floating Exchange Regime”

Vugar Bayramov: “Azerbaijan Will Most Probably Move to Liberal Floating Exchange Regime” Next year, the likelihood is high that the Central Bank of Azerbaijan following the example of Russia and Kazakhstan will move to a liberal floating regime of the national currency, Vugar Bayramov, the well-known economist in Azerbaijan, says. Dr. Bayramov underlined that, in this case, even transfers from the Oil Fund will not be able to prevent the depreciation... Read More

CESD Chairman: Azerbaijan national currency will continue depreciating against the dollar

CESD Chairman: Azerbaijan national currency will continue depreciating against the dollar In the coming months, the devaluation of the manat will continue, the economist Vugar Bayramov said. In an interview with Turan Bayramov noted that AZN has not found its real exchange rate. Note that in the last two months the dollar in respect to manat has been growing. If on July 1, 2016, the dollar was worth an average of 1.56 manats, in August there is a... Read More

Vugar Bayramov: “In 2015, Inflation Projected at 10%”

Vugar Bayramov: “In 2015, Inflation Projected at 10%” The Central Bank of Azerbaijan on Monday decided to cancel binding AZN to the US dollar and the transition to the two-currency basket with dollar and euro in determining the rate of the national currency. This led to panic and hype among the population and queues of people wanting to change manat for dollars appeared at bank exchange points. The expectations of what will happen to manat... 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