12:51 - 5.01.2023

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January 5, Fineko/abc.az. Will there be manat devaluation this year? How the exchange rate of the manat will change in 2023 is one of the most frequently asked questions lately. Milli Majlis MP Vugar Bayramov made a statement on this issue.

ABC.AZ reports that the MP raises a range of issues in his statement.

He noted that the Central Bank stated that there were no threats to the exchange rate of the national currency.

However, it is possible that during the year there will be a reaction to global processes, in particular, to regional changes. While 2022 was a successful year for the oil market against the backdrop of the Russian-Ukrainian war, stock markets started this year with a low price.

The price of a barrel of Brent crude oil is offered below $80. The price of oil has fallen more than by 8% over the past 5 days compared to the last day of the previous year. And this is undesirable from angle of foreign exchange earnings of oil exporting countries. In 2023, strategic markets will be affected by the state of the global economy, the geography and frequency of the COVID-19 pandemic in China, as well as the course of the Russian-Ukrainian war. And the establishment of price cap for Russian oil by the Big Seven significantly limits the growth of prices for "black gold".