Chairman of Central Bank: Our task is to prevent a sharp devaluation of the manat

Elman Rustamov: Banks are buying the currency in line with the existing demand

Baku. 2 March. REPORT.AZ/ Central Bank of Azerbaijan Republic (CBAR) launches monetary intervention in the domestic market on the basis of the available graphics. The chairman of CBAR Elman Rustamov said in response to the question of Report: "We have a schedule and maintain the currency on the market in accordance with it."

E.Rustamov also noted that commercial banks buy foreign currency in the amount corresponding to the current demand: "Poll at the banks shows that they are buying the currency in accordance with the existing demand. An auction was also scheduled today and we will put on sale the currency in the right amount. Notably, CBAR is no currency provider and regulator. Our task is to prevent a sharp devaluation of the manat."

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