Elman Rustamov told about US dollar – currency was not released to market to keep stability

11:40 - 13.01.2020


January 13, Fineko/abc.az. In 2019 the Central Bank of Azerbaijan did not issue currency to stabilize the US dollar, on the contrary, it sterilized the excess currency mass in the market.

ABC.AZ reports that this statement was made last week by Central Bank’s chairman Elman Rustamov at a meeting with entrepreneurs and chairmen of banks.

He noted that in 2019 Azerbaijan's foreign exchange reserves increased by 14%, and the growth of Central Bank's currency reserves was significant: "This means that we (in 2019) did not spend money on the stability of the manat exchange rate, and on the contrary, we had to sterilize the remaining excess currency on the market."

By Elmir Murad

 

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