Azerbaijan to cancel 4%-margin on currency sale
Today, a meeting was held with heads of banks in the Central Bank of Azerbaijan.
CBA management said it is ready to ensure full shift to the floating manat rate: “After small details are solved, we’ll ensure full shift to the floating manat rate”.
Bankers told APA-Economics that after ensuring full shift to floating manat rate, the currency auction will change its format. It’s also noted that 4%-margin will be cancelled. Consequently, the banks will themselves set the exchange rate.
Date of ensuring full shift to floating manat rate is still unknown.