Abdullayev said that there is no fundamental reason for fluctuation of manat exchange rate. “The fluctuation is observed in the countries where the currency receipts in the balance of payments sharply decline or deficit appears in the balance of payment. Our balance of payments is still balanced. Therefore, we think there is no fundamental reason for fluctuation of manat exchange rate. There is a balance in the currency market”.
Regarding switch to floating exchange rate policy, Abdullayev noted that the CBA has a roadmap for increase of quickness of manat exchange rate for mid-term period: “We think we’ll successfully realize this roadmap. However, we don’t see any need for sharp fluctuation of manat exchange rate in oil prices and balance of payments for this year and next year,” he said.
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