The Azerbaijani manat’s devaluation: what are next steps?

The Azerbaijani manat’s devaluation: what are next steps? On December 21, the Central Bank of Azerbaijan abandoned its dollar peg, allowing Azerbaijani Manat (AZN) to nose-dive by almost a half. After the Central Bank relinquishing control of its exchange rate, the quoted exchange rate was announced 1.55 against US dollar. It is the Azerbaijani Manat’s weakest record over the last 20 years. Azerbaijan – an economy rich in energy in the post-Soviet... Read More