BAKU – The Azerbaijani currency market exhibited a mix of stability and minor fluctuations this week, with the manat holding steady against some currencies while adjusting slightly against others.

According to Trend News Agency, the Central Bank of Azerbaijan (CBA) maintained the official exchange rate of the Azerbaijani manat against the US dollar at a consistent 1.7 manat per dollar by week’s end. The stability in this exchange rate underscores a steady economic environment in terms of currency valuation against the dollar.

In contrast, the manat experienced a slight appreciation against the euro. The official exchange rate rose by 0.0228 manat, settling at an average rate of 1.8845 manat per euro, down by 0.0121 manat from the previous week. This indicates a minor strengthening of the manat relative to the euro, reflective of changing market dynamics in the region.

The manat’s value against the Russian ruble also saw minimal change, with the official rate growing by 0.0002 manat. The weighted average rate, however, decreased by 0.0004 manat, finishing the week at 0.018 manat per ruble. Such small adjustments suggest minor market shifts without significant economic impact.

There was no change in the official exchange rate of the manat against the Turkish lira, remaining stable throughout the week. However, the weighted average rate saw a negligible decline of 0.0001 manat, ending at 0.0497 manat per lira.