12:50 - 7.04.2023

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April 7, Fineko/abc.az. Milli Majlis MP Vugar Bayramov has commented on the repeated appreciation of the euro against the dollar and said that positive figures related to the eurozone and, in particular, the German economy strengthened the euro. 

ABC.AZ reports that along with the dollar, the MP also mentioned about manats. Bayramov said that the manat is losing value against the euro: 
"According to Central Bnak’s official exchange rate, over the last 1 month, the manat has fallen in price by almost 4.0% against the euro. And over the past six months the manat has lost 10.0% in price against the euro. The depreciation of the national currency against European money is associated with changes in the euro against the dollar. Thus, direct exchange rate of the manat against the dollar and cross-exchange rate against the euro is established. When the euro rises in value against the dollar, the manat also becomes cheaper compared to European money."

In his opinion, the strengthening of the euro may lead to an increase in the cost of goods imported from Europe in manat terms:
"Although there is no tangible increase in prices for these products yet, European goods will become more expensive on the world market if the euro continues to strengthen."