Baku. 30 August. REPORT.AZ/ In the background of instability in world economy, at this stage, devaluation of Azerbaijani manat is not expected.
The Head of FX Strategy of the Saxo Bank John J. Hardy said responding to a question about the possibility of a new US-dollar devaluation wave.
According to analyst, there is no global economic instability at present: “While the demand for assets in developed countries is increasing, I observe the interest in business in developing countries and the strengthening of the currencies of these countries and their asset growth”.
"Therefore, if any devaluation process occurs in the manat, it will be related to the situation on the local market without exception. I believe that, devaluation will depend on level of confidence in the preservation of capital in the country, fiscal and political situation, as well as oil prices. Thus, oil has major share in the export of Azerbaijan and constitutes the basis of currency revenues", J. Hardy said.