“No sharp devaluation is expected in Azerbaijan. However, in case of any events in the foreign markets, especially oil price decline, manat will be adapted to that. But, most of large financial institutions predict oil price to be at $50-55. Current prices of oil are in this zone for a long time. Our calculations are also about $50-55”, he said.
Rustamov also noted that base price of oil in 2016’s state budget will be $50.
Elman Rustamov: "Base price of oil in 2016
01 April 2015
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"Central Bank of Azerbaijan (CBA) does not expect any serious changes in the exchange rate of manat", said the CBA chairman Elman Rustamov.
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