Currency market in Azerbaijan: Why the national currency is losing its value?
Development, Center for Economic and Social | December 2016
Abstract
It has already been three month since the national currency of the Republic of Azerbaijan continuously loses its value. Since the second half of 2014, due to the fall in oil prices on the world markets, the resulting pressure on the national currency – ‘Manat’ is ongoing nowadays. Overall, Manat lost 49.6% of its value in 2015 and in addition, with more 3% depreciation in the first 7 months of 2016, the losses could reach 52.6%. Although the occurring rapid dollarization and the observed stagnation in the business environment especially in imports in the first months of 2015 and 2016 resulted in short-term reduction in foreign exchange demand in March-May period of this year and strengthening the exchange rate of USD/AZN at the level of 1.49, the process of depreciation proceeded again afterwards. As a result, the national currency increased its annual losses to the level of 3% in June-July, by depreciating 7% against the US dollar again.
Citation
Development, Center for Economic and Social. 2016. Currency market in Azerbaijan: Why the national currency is losing its value?. © Center for Economic and Social Development. http://hdl.handle.net/11540/6683.Keywords
International Financial Market
Multilateral Financial Institutions
Economic Recession
Market
Crisis
Economic indicators
Growth models
Gross domestic product
Macroeconomics
Economic forecast
Pension Funds
Mutual Funds
Social Equity
Financial Aspects
Fiscal Policy
Public Financial Management
Financial System
Financial Statistics
Financial Stability
Financial Management System
Financial Restructuring
Capital Market Development
Erosion
Market Development
Economics
Erosion
International Economics
Macroeconomic
Macroeconomic Analysis
Performance Evaluation
Impact Evaluation
Business recessions
Multilateral development banks
Regulatory reform
Capital
Exports
Economic development projects
Economic policy
Economic forecasting
Pension plans
Individual retirement accounts
Employee pension trusts
Investment management
Investments
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Citable URI
http://hdl.handle.net/11540/6683Metadata
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