It is predicted that the peg of the manat to the US dollar in Azerbaijan will remain at the level of 1.7 manats per dollar at least until the end of 2028.
As Day.Az reports on Friday with reference to Trend, according to the Ministry of Finance of Azerbaijan, the forecast was prepared by the Ministry of Economy of Azerbaijan.
“In the macroeconomic forecasts presented by the Ministry of Economy of Azerbaijan, it is expected that in the period from 2025 to 2028, the manat exchange rate to the US dollar will remain stable and will be at the level of the current year,” the Ministry of Finance said in a statement.
It should be noted that analysts from the Dutch ING predict that Azerbaijan will maintain the de facto peg of the manat to the US dollar at the level of 1.7 manat to one dollar at least until the end of 2026. 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.
Let us recall that the Central Bank of Azerbaijan fixed the exchange rate of the national currency to the US dollar at 1.7 manat in 2017 in order to control inflation.