Baku. 30 April. REPORT.AZ/ Falling value of US dollar on world financial markets in recent days has had an impact on exchange rate of Azerbaijani manat.
Information about the slow pace of GDP growth in the US in the first quarter of 2015 has further strengthened the assumption that the Federal Reserve will not raise interest rates in coming months. As a result, the dollar on world financial markets significantly weakened against major currencies.
Research Group of Report News Agency believes, if yesterday morning, USD/Euro made 1,0960, then in the evening the rate up to 1,1180 USD/EUR. This change had an impact on the Azerbaijani market, thus the Central Bank of Azerbaijan has approved today the official dollar exchange rate at the level of 1,0487 AZN/USD, although yesterday's rate was equal 1,0494 AZN/USD.
Research Group of Report News Agency finds that, the trend of USD weakness in the financial markets will continue for some time, and the Euro will be 1,22 USD/EUR. In this case, continue to strengthen the national currency of Azerbaijan to US dollar. It should be noted that, the weakening of US dollar will be accompanied by an increase in oil prices on world markets. In this case, it is likely that the rate of US dollar in Azerbaijan drops to 1,0450 AZN/USD.
"This forecast will cover the period of the next 3-4 months. Then, at the end of the year US dollar will rise in price again, and oil will become cheaper. In the next 2-3 years the euro in world markets will be 0,85 USD/EUR, while the price of oil to fall to 38- 45 USD per barrel", concluded the analysts of Report.