BAKU: The official exchange rate of the Azerbaijani manat is set at 1.7 against the US dollar and 1.851 against the euro for October 16, 2024.
According to Trend News Agency, the exchange rates were announced by the Central Bank of Azerbaijan, which regularly monitors and adjusts the national currency’s value in response to global economic conditions. The manat’s stability against major world currencies is seen as a positive indicator of Azerbaijan’s economic resilience.
The Central Bank of Azerbaijan plays a crucial role in maintaining the monetary policy of the country, ensuring that the local economy can adapt to changes in the global economic landscape. The stability in exchange rates helps in planning international trade and investment strategies for the country.