According to him, during the nine months of this year manat rate has undergone 5% correction compared to the beginning of the year.
“It’s hard to make a prediction of currency rate. Manat rate is actually built upon the controllable floating regim,” said Rustamov. “Its formation is affected by a number of factorsm, especially oil price, the balance of payments, etc. The pressure on manat rate has increased during a certain period. However, we are taking necessary measures within the Financial Stability Council to ensure manat’s endurance.”
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