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USD rate may decrease in Azerbaijan

However, increase of dollar rate once again forecasted by the end of this year

Baku. 17 April. REPORT.AZ/ In June of this year, on the eve of the first European Games in Azerbaijan, the US dollar may fall to 1,0450 AZN/USD. This may contribute to factors such as rising oil prices on the world market and the flow of tourists in Azerbaijan during the Games. At the same time, the weakening of the US dollar against other currencies in the world market could trigger a consolidation of manat.

Analytical Group of Report Agency believes, the price of Brent crude oil to reach 75 USD per barrel next two months, and in the summer months as prices exceed 70 USD per barrel.

However, by the end of 2015, the price of oil will fall back to 50 USD per barrel, the dollar strengthened against the euro, or exceed a level of parity, as a result, the cost of the manat decreased again.

According to forecasts of Report experts, by the end of this year, the dollar will amount 1,20 AZN/USD.

At present time, the price of Brent crude oil is 64 USD per barrel, Euro makes 1.08 USD.

Despite the imported inflation as a result of devaluation, this year inflation in Azerbaijan is forecasted to be 7.6%. Of the outstanding cash money compared to the beginning of the year decreased by 19.8% to 8.7 billion manats. This factor will help to reduce inflation expectations.

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