Azerbaijan's Central Bank Divulges Data On Real Effective Exchange Rate Of Manat
Date
12/3/2024 3:10:24 PM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, December 3. The nominal
effective exchange rate of the manat in non-oil trade strengthened
by 2.9 percent, and the real effective exchange rate decreased by
3.3 percent over nine months of the current year, Trend
reports via CBA.
Moreover, it was noted that inflation in Azerbaijan at a level
below the weighted average inflation in partner countries had a
reducing effect on the real effective exchange rate. It was noted
that the official exchange rate of the manat to the US dollar for
the period was determined based on the average rate on interbank
transactions (taking into account auctions and non-auction
transactions on the Bloomberg platform).
“The average daily official exchange rate of the manat to the US
dollar for the reporting period amounted to 1.7 manat. The rates of
purchase and sale of foreign currency set by banks fluctuated in
the range close to the official exchange rate. Thus, the average
daily rate of purchase by commercial banks for 1 US dollar differed
from the official one by 0.32 percent, and the rate of sale by 0.12
percent.
In the reporting period, the manat exchange rate against the
Turkish lira increased by 17.1 percent, against the Ukrainian
hryvnia by 11.2 percent, and against the Kazakh tenge by 5.3
percent. The manat depreciated by 1.7 percent against the euro, by
4.2 percent against the British pound sterling, and by 2 percent
against the Swiss franc during the reporting period. The dynamics
of bilateral exchange rates affected the dynamics of multilateral
exchange rates,” the report notes.
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