Taleh Kazimov: Fixed exchange rate regime is justified in Azerbaijan

The fixed exchange rate regime in Azerbaijan is unequivocally justified, Chairman of the Central Bank of Azerbaijan (CBA), Taleh Kazimov, said at the special session of the Milli Majlis (Parliament) held today, Report informs.

“The depreciation of the national currency in the main partner countries had a reducing effect on the prices of products imported from them to Azerbaijan. A fixed exchange rate regime is also justified in terms of inflation, Kazimov noted.

According to him, the main policy of CBA is price stability, not exchange rate policy: “Exchange rate stability is the only regime necessary to ensure macroeconomic stability,” he said.