BAKU, Azerbaijan, September 13. Azerbaijan will keep the manat's de facto peg to the US dollar at 1.7 manat to a dollar until 2029, Trend reports.
According to the forecast of the Economist Intelligence Unit (EIU), a research and analytical unit of The Economist Group, the Central Bank of Azerbaijan uses a fixed exchange rate against the US dollar.
Meanwhile, it is noted that the outlook for the manat remains stable, which is confirmed by a significant current account surplus.
Moreover, it is emphasized that the main task of the regulator's policy in the period from 2024 through 2028 will be to maintain the stability of the manat exchange rate, given the large foreign exchange reserves.
The Central Bank of Azerbaijan fixed the exchange rate of the national currency to the US dollar at 1.7 manat in 2017 to control inflation.
To note, the international rating agency S&P Global Ratings, the Asian Development Bank, and analysts of the Dutch ING expect the national currency to remain pegged to the dollar until 2026.