In 5 months of this year, purchases of cash US dollars by banks exceeded sales for the first time since 2018 in Azerbaijan, Report informs, citing CBA.
"During this period, the volume of the organized interbank currency market increased by 45% compared to the same period last year. The nominal effective exchange rate of the manat strengthened by 8.4% in 2022, and by 5.1% in 5 months of 2023. In recent months, seasonal factors also have had a reducing effect on inflation," said CBA.