403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Saudi- Azerbaijan sets its currency on free float
(MENAFN- Saudi Press Agency) BAKU Azerbaijan Rabi'I 10 1437 Dec 21 2015 SPA -- Oil-rich Azerbaijan has let its currency float freely leading to its sharp depreciation as global oil prices hit new lows AP reported.
Azerbaijan's Central Bank said Monday's move to let the manat fluctuate was made to "preserve hard currency reserves ... and ensure the national economy's competitiveness on the international arena."
Immediately after the move the manat fell by 48 percent ending at 1.55 a dollar.
--SPA
13:13 LOCAL TIME 10:13 GMT
Azerbaijan's Central Bank said Monday's move to let the manat fluctuate was made to "preserve hard currency reserves ... and ensure the national economy's competitiveness on the international arena."
Immediately after the move the manat fell by 48 percent ending at 1.55 a dollar.
--SPA
13:13 LOCAL TIME 10:13 GMT
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept any
responsibility or liability for the accuracy, content, images, videos,
licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright issues
related to this article, kindly contact the provider above.
Comments
No comment