Central Bank of Azerbaijan works to prevent excessive consilidation of national currency's exchange rate

Currency flow and increasing of USD weight in Azerbaijan caused increasing of national currency course, Azerbaijan’s Central Bank chairman Elman Rustamov told journalists.

He said the process is under the control of the Central Bank. “It can create some obstacles for non-oil export, but it is positive to keep inflation under the control. Advanced currency will cause drop of prices in import operations”, said Rustamov.

CB chairman said situation in the banking sector is stable and last year there was certain development process. “I consider the banks know what problems they can face during the crises and therefore they created significant resources and this process should be developed”.


/APA/