Manat exchange rate in Azerbaijan won't change next year

The Central Bank of Azerbaijan (CBA) will strive to continue the policy of stable manat rate next year, CBA Chairman Taleh Kazimiv said at the session of the Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship.

"During the preparation of the next year's state budget, the US dollar exchange rate was estimated at 1.7 manats. Exchange rate stability is important for macroeconomic stability," he noted.

The national currency exchange rate has not changed in Azerbaijan since March 7, 2018.

Kazimov also said that the capital market should be developed in order to create investment funds in Azerbaijan.

"If we create an investment fund now, the funds will flow abroad," the CBA official added.