Will declining Turkish lira affect Azerbaijani manat?

The processes taking place in the economy and financial system of the partner countries are constantly in the center of attention of the Central Bank of Azerbaijan (CBA), CBA Chairman Elman Rustamov said, Report informs.

“Azerbaijan maintains macroeconomic stability, including equilibrium in the foreign exchange market, and there is a decrease in dollarization. The upward trend in world oil prices has a positive effect on stability in the foreign exchange market. Considering all of the above-mentioned, the impact of the fall in the Turkish lira on the Azerbaijani manat isn’t expected. The country has sufficient financial resources to maintain a balance in the foreign exchange market and the current macroeconomic stability,” he said.