CBA: Manat exchange rate to remain stable this year

“There is a decrease in the sale of foreign currency in Azerbaijan, I think that the population’s confidence in the national currency has grown,” Governor of the Central Bank of Azerbaijan (CBA) Elman Rustamov said at a press conference, e-huquq.az informs.

He noted that this year the exchange rate of the Azerbaijani manat will remain stable.

In 2021, the State Oil Fund of Azerbaijan (SOFAZ) sold foreign currency for $6.688 billion. This is 8.4% less than in 2020.

In December alone, the volume of currency sales amounted to $989.1 million, which is 55.1% more than in December of the previous year.