Azerbaijani citizens start buying dollars in panic


April 17, Fineko/ The Financial Markets Supervision Chamber of Azerbaijan has commented on the rumors about shortage of foreign currency at exchange offices.

Chamber’s executive director Ibrahim Alyshov stated that the market analysis conducted during the last week has showed that banks cover the demand in foreign currency.

"According to the results of the research, the volatility of the exchange rate among the main trading partners has created psychological tension in Azerbaijan. The Central Bank has provided banks with sufficient amount of cash currency. But there is a psychological factor, and citizens began to panic, but there is no macroeconomic basis for the rise in price of the US dollar," Alyshov said.

He added that mainly the population buys foreign currency. During the last week $800-$1300 accounted for each buyer.



Keywords: currency Alyshov