Real effective exchange rate drops in November

Baku. 13 January. REPORT.AZ/ Real effective exchange rate (REER) of Azerbaijani manat was 90.3 in December 1, 2016. 

Report informs, referring to Central Bank of Azerbaijan (CBA), this 0.9 points lower comparing to index on November 1.

REER index was down by 19.7 points in comparison with that in the beginning of 2016, and by 32.8 points in comparison with index of the same period of previous year. Notably, REER was adopted as 100 points in December 2000. Its lowest indicator (74.2) was recorded in 2004.

REER rise means manat gaining ground against national currencies of trade partners. This implies export downshift and low-cost import. Report’s expert group predicts manat’s REER index to climb in December due to devaluation of Chinese yuan and Turkish lira.