A decline in the Central Bank’s reserves and growth in demand for foreign currency in Azerbaijan: What’s next?
Hasanov, Rashad | May 2018
Abstract
Demand for foreign currency auctions is increasing, foreign currency reserves of the Central Bank are decreasing and the Manat money base is getting smaller. These developments occurrence raises a question in the minds of stakeholders: will the current status quo of the exchange rate remain? How will the observed depreciations of neighboring countries’ currencies affect Azerbaijan’s non-oil exports? Will the current price of oil lead to changes in the monetary and fiscal policies of the government? In this research paper the latest trends in the above mentioned developments will be briefly analyzed and the monetary and exchange policies of the Central Bank, as well as the fiscal policy of the government, will be evaluated from the point of view of exchange markets. Along with these, potential short and middle-run scenarios which may arise from the government’s exchange rate policy will be given at the end of the paper.
Citation
Hasanov, Rashad. 2018. A decline in the Central Bank’s reserves and growth in demand for foreign currency in Azerbaijan: What’s next?. © Center for Economic and Social Development. http://hdl.handle.net/11540/8364.Keywords
Macroeconomic
Macroeconomic Analysis
Macroeconomic Framework
Macroeconomic Models
Macroeconomic Performance
Macroeconomic Planning
Macroeconomic Policies
Macroeconomic Reform
Macroeconomic Stabilization
Results-Based Monitoring And Evaluation
Project Evaluation & Review Technique
Project Evaluation
Program Evaluation
Performance Evaluation
Operations Evaluation
Evaluation Methods
Evaluation
Social condition
Economic dependence
Economic assistance
International monetary relations
International monetary relations
International trade
National accounting
Market
Project impact
Development projects
Program management
Performance appraisal
Project appraisal
Technology assessment
Exchange
Comparative economics
Index number
Monetary policy
Value analysis
Adjustment cost
Transaction cost
Conditionality
International relations
Cumulative effects assessment
Grievance procedures
Participatory monitoring and evaluation
Exchange rate
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