11:22 - 18.05.2022

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May 18, Fineko/abc.az. "Western sanctions against the Russian economy are already having negative impact on the European economy. Therefore, the euro is getting cheaper all over the world, including in Azerbaijan. In fact, the Azerbaijani manat is pegged to the dollar. If the euro gets cheaper against the dollar, then it will continue to get cheaper against the Azerbaijani manat,” ABC.AZ reports, citing expert Ekrem Hasanov in an interview for the local press.

He noted that in fact, the loss of the value of the euro now directly relates to the Russian-Ukrainian war. The euro will fall as the war continues.

Hasanov argues that if the Russian-Ukrainian war lasts until the end of this year, the dollar may become more expensive than the euro: “Since the U.S. is a more stable country, then their currency is more stable. And the European economy depends on the decisions of several states. Therefore, it is more susceptible to changes and losses. In my opinion, if the war in Ukraine drags on until the end of the year, the euro will fall below the dollar.”