for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Azeri central bank says frenzy on FX market averted, market adapts to manat float

BAKU, March 15 (Reuters) - A frenzy on the Azeri foreign exchange market has been averted and the market is gradually adapting to the manat’s floating exchange rate regime, the Azeri central bank told Reuters in written comments.

The central bank added that changes in currency policy, in effect since last year, are stabilising the country’s balance of payments.

The central bank also said that trust in the manat, the national currency, has been positively affected by the issuance of treasury bonds and an increase in manat deposit rates. (Reporting by Nailia Bagirova; writing by Katya Golubkova, editing by Jason Bush)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up