‘As a result of gradual increase of oil price, as well as tight monetary and fiscal policy, exchange rate of manat has stabilized at AZN 1.70 since April. This, in turn, led to decline in 12.9%-inflation. Since April 2017, the inflation slowed. Dollarization level gradually lowers, and this means that confidence in manat is increasing. We think manat rate will remain stable during next two years’, the agency said.
Fitch discloses forecast for Azerbaijani manat rate for 2 years
Fitch Ratings expects the rate of Azerbaijan's national currency against the US dollar to remain at 1.7 manats within the next two years.