Can the dollar fall? – PHOTO |
“In the last 2 currency auctions organized by the Central Bank, no orders were submitted by the banks. This means that none of the auctioned dollars bank was not interested in buying. In other words, there was no demand for dollars from the banks in the auctions.”
About it National Member of the Economic Policy, Industry and Entrepreneurship Committee of the Assembly Vüsnow Bayramov social noted in the network account.
But what is the reason for this? Can the manat strengthen against the dollar?
Deputy said that there are several main reasons for the decrease in demand for the dollar:
“First of all, there is a seasonal decrease in the demand for dollars. This is mostly related to the volume of import transactions. The decrease in the volume of imports in the first month of the year also lowers the demand for dollars. In the first 11 months of last year, the volume of import was 12 billion 881 million dollars has been This means a 1.2 percent increase in the volume of imports compared to the previous year. Import is the main demand factor for the dollar. Changes in the volume of imports determine the demand for foreign currency.
On the other hand, the population’s demand for dollars is decreasing. There are two important points here. Firstly, dollars There are limits to the purchase. This too dollars has a direct impact on the purchase. Second, the long-term stability of the manat reduced the demand for dollar deposits. 11 of the population in banks billion 7 of the 753 million manat deposit billion 139 million manats nationaland 4 billion 603 million manats are kept in foreign currency”.
V. Bayramov added that as for the change in the exchange rate of the manat, for the Central Bank’s exchange rate policy, it seems more important to preserve the current exchange rate, not to strengthen the manat:
“As Azerbaijan has not yet adopted a floating exchange rate policy, the exchange rate of the manat is the same central bank can directly influence with intervention tools. In this regard, the current exchange rate policy does not aim at strengthening the manat exchange rate. Given the volatility in global markets, any change in the exchange rate may have adverse effects in the medium to long term. In the present case central bank the goal is to maintain the current course.
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