“Demand for foreign currency mainly depends on the Balance of Payment, that’s volume of foreign currency. According to analysis, the changes in the exchange rate in 2015 are have balancing impact on the balance of payment. Moreover, measures for dedollarization also one of factors affecting demand for currency”, the bank said.
According to the FRS’s decision on March 15-16, the discount rate remained unchanged at the range of 0.25-0.50%. Following this decision, the USD is declining.
Manat rate unaffected by FRS decision - Central Bank
19 March 2016
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In accordance with the new exchange rate regime, the USD rate depends on demand-supply ratio in the currency market, not the Federal Reserve System
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