Baku. 5 January. REPORT.AZ/ Strengthening of US dollar's position on the world currency market and rise of dollar against euro not later than February 15 of this year is forecasted. After raising of the interest rates by the Federal Reserve (Fed) in December, the dynamics of the USD/EUR has changed in the opposite direction, showing a sharp increase from 1.06 to 1.10.
Report informs, the Fed's next meeting will be held on February 1 and raising the key rate on it is not expected. However, the Analytical Group of Report News Agency predicts growth in key rates by 0.25-0.50 percentage points at a meeting on March 15. According to the leadership of the Federal Reserve, a prerequisite for raising the discount rate it is the stability of the global market. This creates the need for a positive attitude on the stock exchanges, commodity and currency markets. "However, the strengthening of the dollar is inevitable. Consequently, it should start even earlier today and is expected to parallel the decline in world stock markets and falling commodity prices", analysts say.
Research Group of Report predicts decline in the dollar/euro until mid-February to 0,95-0,98 USD/EUR: "Then, in early April, the course will again reach the parity. The strengthening of US dollar also contribute the fluctuations of the European Central Bank (ECB) in deciding on monetary expansion."
"In Azerbaijan, official US dollar exchange rate until February 15 will rise to 1,60 AZN/USD, and in the organized currency market it will fluctuate within 1,70-1,75 AZN/USD", experts of the agency believe.