Web Desk March 30, 2021

The ongoing processes in the economic and financial system of Azerbaijan’s partner countries are constantly in the focus of the Central Bank (CBA), Trend reports on Mar.30 referring to the CBA’s Twitter page.

According to the Bank’s Chairman Elman Rustamov, Azerbaijan is maintaining macroeconomic stability, including balance in the currency market, and the country’s dollarization level is showing decline.

Rustamov noted that the upward tendency in world oil prices positively impacts the stability of the currency market, improving the payment balance and expectations. Given all these factors, the impact of the Turkish lira’s fall on Azerbaijani manat’s currency rate isn’t anticipated.

The chairman summed up that Azerbaijan has enough resources to maintain the balance of the currency market and present macroeconomic stability.

 

Source: TREND News Agency

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