Elman Rustamov: Works to shift to fully 'floating exchange rate' underway

Baku. 12 December. REPORT.AZ/ At present, we conduct works towards transition to fully ‘floating exchange rate’. 

Report informs, Chairman of Central Bank of Azerbaijan (CBA) Elman Rustamov told reporters.

Rumor on some official allegedly collecting and reserving money are groundless: “Shift to fully ‘floating exchange rate’ implies settlement of some macroeconomic and structural problems. We have already shifted to ‘floating exchange rate’ since beginning of the year. Central Bank doesn’t offer its reserves in the auction since February. But there is huge disproportion between demand and supply in the market.”