Fitch’: U.S. dollar rate will remain constant in Azerbaijan for next two years

Baku. 3 February. REPORT.AZ/ Fitch international rating agency predicts the rate of the national currency - manat to remain broadly unchanged over the coming two years, based on stable oil price assumptions.

This is stated in the report of the Agency's rating on Azerbaijan.

Assets in the State Oil Fund of Azerbaijan (SOFAZ) have also increased from $33.1 billion in 2016 to $35.8 billion at the end of 2017 -- equal to 87.4 percent of gross domestic product last year.

However, Fitch warned that the economy is highly dependent on commodities, and this is unlikely to change.