Official USD exchange rate exceeds 1.70 AZN in Azerbaijan - FORECAST

Baku. 15 November. REPORT.AZ/ Central Bank of Azerbaijan (CBA) is expected to set official exchange rate at 1.7024 AZN/USD on November 16. 

Report informs citing the banking circles, at today's currency auction closing price of 2nd session was at 1.7024 AZN/USD.

Notably, CBA recently does not hold 3rd session in auction.Therefore, the official exchange rate for tomorrow (interbank currency sales not implemented) is expected to be at this level. This means growth in the exchange rate by 0.41%.

If official exchange rate set at 1.7024 AZN/USD in next working day (November 16), it will be the highest record.So, the highest official exchange rate previously fixed at (1,6954 AZN/USD).

Analytical Group of Report does not exclude official exchange rate to hit 1,704 AZN/USD.