Expert: Prices for SOCAR bonds may gradually rise

Baku. 18 October.REPORT.AZ/ Bonds of the State Oil Company of Azerbaijan Republic (SOCAR) may gradually rise.

Analyst of 'Capital Management Investment Company' OJSC Jafar Ibrahimli told Report.

According to him, interest in the financial instruments in foreign currency, including US-dollars will be high as probability of Azerbaijani manat impairment is high in the long-term perspective. It increases prospects of SOCAR bonds, which promise annual 5% profit. In addition, easy sale of the bonds in the secondary market, fixed interest payment by SOCAR may increase prices of the state-owned financial instruments.

"At present, Azerbaijani banks don't pay dividend of average over 3% for USD deposits. Depending on the market situation, interest rate may fall to even 1-2%. In this case, it will be beneficial for investors to get SOCAR bonds as well as their sale at 101-102% is possible", J.Ibrahimli said.