Assistant to president explains "red line" for manat rate

  11 March 2016    Read: 2096
Assistant to president explains "red line" for manat rate
“Currently, it’s not needed an emergency intervention to manat rate”, Assistant to the President for economic reforms Natig Amirov said in the conference on “Support of American Chamber of Commerce in Azerbaijan to the reforms carried out in Azerbaijan”.

“The main factor affecting manat rate is the level of import and manat rate. The manat rate declines when the import increases. Currently, it’s not needed an emergency intervention to manat rate by the Central Bank. There is not any “red line” on manat rate. The exchange rate is set by market. Generally, there is a red line that may damage the economy. In such cases, the Central Bank intervenes in it”, Amirov said.

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