Elman Rustamov: "Manat devaluation in Azerbaijan not actual"

"We observe definite process of devaluation of national currency in the CIS states this year. On this background Azerbaijan we observe a definite psychological rush. But I can state that today national currency devaluation is not actual for Azerbaijan and we are going to ensure manat stability", said Rustamov.

He said in January-February of 2009 the National Bank of Azerbaijan sold $300,000,000 of its monetary reserves to maintain stability of national currency.

"Azerbaijan has sufficient monetary reserves to ensure stability of the national currency rate. We have analyzed different factors and came to a conclusion and there are more factors "for" maintenance of the stability of national currency rate", said he.