Azerbaijan’s CBA dismisses views on expected devaluation as ‘groundless’

Opinions that devaluation will occur in Azerbaijan have no basis, Chairman of the Central Bank of Azerbaijan (CBA) Elman Rustamov told journalists on Wednesday.

According to Rustamov, this is not expected either now or next year.

"Unlike neighboring countries that are trade partners of Azerbaijan, there is no serious impact of the coronavirus pandemic in the country," said the chairman.

"Opinions about devaluation are empty talk. The budget presented today is based on a stable exchange rate and very low inflation," Rustamov added.

Earlier, during an online press conference, Rutamov stressed that the banking sector of Azerbaijan demonstrates greater stability than predicted.


You Might Also Like