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Vugar Bayramov: Certain changes may await in dollar exchange rate

04.06.2020,12:03


June 4, Fineko/abc.az. Amid the recent events in the U.S., certain changes may occur in the ratio of basket currencies to the US dollar, ABC.AZ was stated by MP Vugar Bayramov.

According to the MP, the pandemic and recent unrest in the U.S. negatively affect the American economy. Bayramov said that along with the unrest the pandemic has caused considerable damage to the US economy.

But, of course, the U.S. is still the leading country in the world from an economic point of view.

At the same time there are practically no alternative currencies to the US dollar in terms of currency: "Of course, there are basket currencies. Among basket-type currencies, the alternative to the dollar in this case may be the Euro. But at the same time, it should be borne in mind that the situation in the Euro zone due to the pandemic is not very rosy. Naturally, this directly affects the euro exchange rate. In this regard, against the background of recent events in the U.S., certain changes may occur in the ratio of basket currencies to the US dollar. In fact, the Fed (America's Central Bank) seems interested in making the US dollar cheaper. But a sharp weakening of the dollar is not expected yet."

By Elmir Murad