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Central Bank of Azerbaijan launched a new devaluation - ANALYSIS

CBAR starts soft devaluation of manat

Baku. 7 April. REPORT.AZ/ Central Bank of Azerbaijan Republic (CBAR) has dramatically increased the official rate of the US dollar by 9 kopecks for every 100 USD, with a mark of 1,0487 AZN to 1,0496 AZN. This is the first serious strengthening of the dollar after the devaluation on February 21.

Analytical Group of Report News Agency considers that this decision is the first step soft devaluation. As a result, in the coming days to continue the process of devaluation of the manat.

Report analysists believe that while the world oil market is expensive, the move of the Central Bank is untimely, "Today soft devaluation occurs at a time when oil prices are rising. After the price of oil will begin to fall, we will witness the third stage devaluation. This, in general, have a negative impact on the economy".

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