CBA: Manat exchange rate to remain stable this year

“There is a decrease in the sale of foreign currency in Azerbaijan, I think that the population’s confidence in the national currency has grown,” Governor of the Central Bank of Azerbaijan (CBA) Elman Rustamov said at a press conference, Report informs.

He noted that this year the exchange rate of the Azerbaijani manat will remain stable.

In 2021, the State Oil Fund of Azerbaijan (SOFAZ) sold foreign currency for $6.688 billion. This is 8.4% less than in 2020.

In December alone, the volume of currency sales amounted to $989.1 million, which is 55.1% more than in December of the previous year.