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Forecast: Dollar may drop to 1.49 AZN tomorrow

Report: Dollar is likely to weaken to 1.40 AZN/USD to the end of May

Baku. 15 April. REPORT.AZ/ Official exchange rate of the US dollar after the last devaluation of the national currency for the first time can go down to the level of 1.49 AZN/USD. 

Report informs stabilization of oil price at 45 USD/barrel level, shifting global economic situation into a positive phase will lead to the strengthening of manat.

This can cause a decline of manat tomorrow on April 26, for the first time in last 4 months below the level of 1.50 AZN/USD. It should be noted that on April 25 the official rate of the dollar hit 1.5036 AZN/USD.

Analytical Group of Report News Agency believes that the exchange rate of the US dollar will continue to fall until the end of May.

"Investors expect the Fed to raise rates in June, but it will not happen, at the end of the year or in early 2017, it is suggested that that the Fed would lower the discount rate. But changes in Fed's discount rate either reduction or increase does not mean the weakening of the dollar.Because interest rates of the main currencies - the euro and the yen are in negative zone.The official exchange rate of the dollar forecasted to approach the level of 1.40 AZN/USD until the end of May", the analysts said. 

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