The level of dollarization will gradually decline in Azerbaijan, Director of the Monetary Policy Department of the Central Bank of Azerbaijan, Azar Alasgarov said at an annual meeting of Fitch Ratings in Baku March 1.
Dollarization in Azerbaijan reached its peak, totaling about 80 percent in early 2017, but it began to decline gradually during the year and it decreased by 10 percentage points by the end of the year, he noted.
“We believe that dollarization will continue to decline in the short term,” Alasgarov added.
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