Azerbaijani manat fell by 13% in a year

Baku. 21 December. REPORT.AZ/ A year has passed from second sharp devaluation of Azerbaijan's national currency, manat. 

Report informs, after the sharp decline of oil prices in the world market, Azerbaijani manat twice suffered devaluation. The first devaluation happened on February 21, 2015, the second on December 21, 2015.

At last sharp devaluation manat depreciated by 47% against US-dollar. Thus exchange rate rose from 1.05 AZN/USD to 1.55 AZN/USD.

During the reporting period manat decreased by 13.4%. In general, from a period of stable exchange rate of manat - 0.7850 AZN/USD national currency depreciated by 124% or 2.24 times.

After the first devaluation manat shifted to the "floating exchange rate" regime. Thus, the minimal rate was recorded on May 25-26 at 1.49 AZN/USD. The maximum limit of the exchange rate 1.7575 AZN/USD recorded today.

The chart below shows trajectory of change of manat against dollar since February 20, 2015: