12:53 - 29.10.2021

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October 29, Fineko/abc.az. The Central Bank does not interfere with the exchange rate of the manat.

ABC.AZ reports that CBA’s chairman Elman Rustamov made the above-said statement at a press conference.

He also explained what was said about the manat rate:

"The claims that the exchange rate of the national currency is artificial do not correspond to reality. This is an open market. I do not know how it can be kept. As for transfers from the State Oil Fund (SOFAZ), the CBA only plays the role of an agent in this process. Some government expenses have to be paid. It's more of a fiscal process. Such transfers are carried out to a greater extent for the State Budget. We very rarely buy currency from banks. As they have liquidity problems. Moreover, international organizations have accounts at the CBA. If we buy currency, we buy it for this purpose. We also buy currency to free it from the pressure of strengthening the manat rate."