Azerbaijani banks fully cover population's demand in foreign currency
![Azerbaijani banks fully cover population's demand in foreign currency](https://www.azernews.az/media/2018/04/17/trend_zakir_nuriyev_240717_14.jpg)
By Trend
Today, there are no macroeconomic, financial or other factors in Azerbaijan that could lead to reduction of the manat rate, Zakir Nuriyev, head of the Azerbaijan Banks Association, told Trend on April 16.
"Macroeconomic indicators of the first quarter of 2018, as well as the volume of gold and foreign exchange reserves of the Central Bank of Azerbaijan (CBA) confirm the lack of fundamental factors for cheapening of the national currency in Azerbaijan. CBA Chairman Elman Rustamov also announced this during his latest speech," Nuriyev said.
"We all know that the oil price is one of the factors that can affect the manat rate. Today, everyone can be sure that the oil price fluctuates around $70. Presently, the manat rate is stable and there are no external prerequisites that could influence it," Nuriyev said.
Today, banks also operate as usual, he said.
"The population's demand in foreign currency is completely covered. The offer even exceeds demand in some banks, which makes it clear that today there are no prerequisites for appreciation of the foreign currency in the country," he said.
---
Follow us on Twitter @AzerNewsAz
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!