“S&P” predicts that the manat will remain stable

“S&P” predicts that the manat will remain stable

With the regular interventions of the Central Bank of Azerbaijan (CBA) in the foreign exchange market, the exchange rate of the manat against the US dollar for one dollar 1,7 will remain stable at the level of manat.

“Report” reports, this is stated in the information of the international rating agency “S&P Global Ratings” on the approval of long-term and short-term sovereign credit ratings of Azerbaijan at the level of “BB+/B” in foreign and national currency.

“However, if hydrocarbon prices fall sharply and remain at low levels for a long time, the government may consider adjusting the exchange rate. This will help prevent a significant loss of foreign exchange reserves similar to what the Central Bank experienced in 2015,” S&P said.

Agency “Brent” brand oil this year on average 102 USD/barrel in 2023 85 USD and in 2024-2025 on average 55 It expects to be at the level of USD/barrel.

In this regard, the agency until 2026, the exchange rate of the manat against the US dollar 1,7 predicts that it will remain at the level of manat.

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