Azerbaijan: Devaluation of Manat
On December 21, the Central Bank of Azerbaijan (CBA) moved to a floating exchange rate of manat, haqqin.az reports.
According to the report of the country's financial regulator, the decision was made taking into account the strengthening of the long-term shocks in the foreign economy to correct the balance of payments, save foreign exchange reserves in the country at a critical level and provide for competitiveness of the national economy in the international arena, Azeri Daily informs.
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