Azerbaijan's central bank: Stability observed in currency market

At present, Azerbaijan's foreign exchange market is stable, and supports the exchange rate's stability, Taleh Kazimov, Chairman of the Central Bank of Azerbaijan (CBA), said at the plenary session of the Milli Majlis.

He also mentioned that the CBA started implementing new monetary policy tools and improved the infrastructure of the money market in September of this year:

"Our goal is to strengthen the impact of the discount rate on inflation through deposit rates. We already see positive trends in this area. The increase in activity in the market and the reaction of deposit interests to the CBA's interest rates are manifested here. In September-October, 208 deals worth 2.4 billion manats ($1.4 billion) were closed on the interbank market, which is the historical maximum."