Report: CBAR should guarantee exchange rate

It will lead to conversion of currency reserves into AZN, increase in lending and revival of economy

Baku. 14 April. REPORT.AZ/ The state should provide guarantee at least for medium-term perspective (2-3 years) regarding stability of US-dollar official exchange rate in order for successful implementation of de-dollarization process in Azerbaijan's financial sector.

The Analytical Group of Report News Agency considers that only in this case currency reserves (including deposits) may be converted into the national currency and revival occur in AZN lending. In turn, activation of AZN lending will speed up economic growth, even cause AZN/USD exchange rate slight fall.

'Considering relative stabilization of USD market price, at current stage, start of de-dollarization is possible. So, normal reaction of the financial sector and population towards repeated decline in oil prices in the world market is expected', the analysts said. 

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