Can the dollar become more expensive in Azerbaijan? |
The Federal Reserve System (FED) of the US increased the discount rate by 75 basis points (0.75%) from 2.50% to 3.25%. This is the highest increase since 1994. In order to control inflation, the Fed seems to be insistent on raising the interest rate.
MP, economist Vüsnow Bayramov wrote on his Facebook page.
He emphasized that the Fed’s decision did not affect the stock markets: “Euro 20 decreased to the annual minimum. The Japanese currency is trading at its lowest rate in 25 years. And the pound sterling is at its lowest rate since 1985 offer is being Other basket currencies are also depreciating against the dollar. USA USD is traded at the highest exchange rate in the last 24 years.
The Fed’s sharp hike decision continues to shake the stock markets. Anti-inflation the rate used as an instrument USA value for money, but the United States has yet to optimize price increases. USAannual in inflation It rose to 8.3 percent, which is the worst indicator in the last 40 years.”
Reacting to the issue of dollar appreciation in Azerbaijan, Vüsnow Bayramov noted that the amount of currency entering the country affects the exchange rate of the manat, especially the amount of currency auctioned by the State Oil Fund: “The amount of funds auctioned by the Oil Fund is very important in meeting the demand for dollars. This, of course, is considered important in terms of the exchange rate of the manat. Of course, in our foreign trade partners national Changes in currency exchange rates are also one of the economic factors.
Reacting to the issue of dollar appreciation in Azerbaijan, Vüsnow Bayramov noted that the amount of currency entering the country affects the exchange rate of the manat, especially the amount of currency auctioned by the State Oil Fund: “The amount of funds auctioned by the Oil Fund is very important in meeting the demand for dollars. This, of course, is considered important in terms of the exchange rate of the manat. Of course, in our foreign trade partners national Changes in currency exchange rates are also one of the economic factors.
In addition to all this, Azerbaijan Since the exchange rate of the manat has not been transferred to the floating exchange rate regime, it depends directly on the decision of the Central Bank. central bank preserves the possibility of full intervention in the process. Therefore, how the exchange rate of the manat changes directly Azerbaijan It will depend on the position of the Central Bank”.