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Central Bank of Azerbaijan changes exchange rate policy

The exchange rate policy on the basis of the mechanism of the two-currency basket considered appropriate

Baku. 16 February. REPORT.AZ/ Board of the Central Bank of Azerbaijan (CBA) has taken the decision to move from to exchange rate policy with the bilateral exchange rate targeting to the targeting of the currency basket from February 16 this year.

Report informs it is stated in a disseminated information by the Central Bank of Azerbaijan (CBA).

The exchange rate policy on the basis of the mechanism of the two-currency basketwhich includes the US dollar and the euro considered appropriate.In this case, the Central Bank will continue to participate in the foreign exchange market within the established corridor. Creating conditions for the gradual adaptation of economic subjects, applied new operational frameworks at the same time will provide flexibility and macroeconomic effectiveness of exchange rate policy, said in a statement of CBA.

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