Manat rate hits five-month high
Manat rate has hit five-month high at the auctions held by Central Bank of Azerbaijan.
According to analysis conducted by APA-Economics, the USD/AZN rate, which was set at 1.7140 by Central Bank, is close to the exchange rate of 1.7146 recorded on November 23, 2016. Volatility has been observed in manat rate since that time. However, the USD/AZN rate has not fall to 1.7140.
The highest level of USD against AZN made up AZN 1.9200 on February 1-2. So, compared to February 2, the manat rate rose 10.7%.
Generally, the manat rate has increased 3.2% since early 2017.