Real effective exchange rate of Azerbaijani manat drops by 1.4 percentage point

Baku. 5 December. REPORT.AZ/ As of November 1, 2018, real effective exchange rate of Azerbaijani manat made up 98.9 points, down 1.4 percentage point from previous month, up 5.3 percentage point compared to a year earlier, Report informs citing Central Bank of Azerbaijan (CBA) that

The decline in the real effective exchange rate was caused by a slight increase in the national currencies of Azerbaijan’s trade partners against dollar.

Manat’s real effective exchange rate has been calculated since 2000. The lowest level was recorded in 2004 (74.2) and the highest in January 2015 (153.1). Since the start of financial crisis, the lowest rate was recorded on September 1, 2016 (87).