BAKU, Azerbaijan, December 5. Analysts at the Dutch ING Group predict that Azerbaijan will keep the manat's de facto peg to the US dollar at 1.7 manat to one dollar at least until 2026, Trend reports.
Analysts explain that this will be due to a significant reduction in pressure on the manat.
Meanwhile, the Central Bank of Azerbaijan fixed the national currency's exchange rate to the US dollar at 1.7 manat in 2017 to control inflation.
To note, the international rating agency S&P Global Ratings and the Asian Development Bank also expect the national currency to remain pegged to the dollar until 2026. The Ministry of Economy's forecast predicts that the manat is expected to maintain a stable exchange rate against the US dollar at 1.7 manat per dollar until at least the end of 2028.