Azerbaijani manat's real effective exchange rates drop in May

As of June 1, 2024, the nominal effective exchange rate of the Azerbaijani manat compared to foreign currencies was 104.3 points, Report informs, referring to the Central Bank of Azerbaijan (CBA).

The CBA’s data shows that this was 0.5 point lower than the previous month, 2.3 points more than the beginning of the year, and 8.2 points more compared to April 1, 2023.

By the end of May, the real effective exchange rate of the manat was 120.1 points, down 1.7 points from a month earlier, 1.3 points less than the beginning of the year, and 1.9 points decline from the same period in 2023.