BAKU, Azerbaijan — Azerbaijan’s currency market exhibited a pattern of stability and minor fluctuations across major currencies this week, according to a comprehensive review by the Central Bank of Azerbaijan (CBA).

According to Trend News Agency, the Azerbaijani manat maintained a steady official exchange rate against the US dollar throughout the week, consistently valued at 1.7 manat to one dollar. This stability underscores a period of economic steadiness despite varying global financial conditions.

Conversely, the manat experienced slight variability against the euro. The official exchange rate of the manat against the euro decreased slightly by 0.0115 manat, with the weighted average rate increasing by 0.0125 manat to settle at 1.8914 manat per euro by week’s end. This fluctuation reflects minor adjustments in the European currency market impacting local rates.

Regarding the Russian ruble, the manat saw a minor appreciation by 0.0004 manat, although the weighted average rate slightly decreased by 0.0002 manat, closing at 0.0186 manat per ruble. These subtle changes indicate modest shifts in trade dynamics between Azerbaijan and Russia.

Additionally, the manat’s rate against the Turkish lira showed minimal appreciation by 0.0001 manat, with the weighted average rate dipping by 0.0001 manat to 0.0499 manat per lira. The minor variance in this exchange rate reflects ongoing economic interactions and the interconnectedness of the regional economies.

These currency trends provide insights into Azerbaijan’s current economic landscape, marked by relative stability but punctuated with minor fluctuations that reflect broader regional and global economic currents.