Central Bank of Azerbaijan dispels rumors about devaluation of manat

The head of the Central Bank of Azerbaijan, Elman Rustamov, has dispelled rumors about the manat's further devaluation on the eve of Novruz.

Rustamov noted that the Azerbaijani manat is strengthening. In addition, the state budget was revised.

"Although oil prices are low, the manat is stable. The foreign trade balance is also being stabilized. No problem is observed in the exchange rate of the manat after switching to a floating rate. This gives me an opportunity to say there are no grounds for a devaluation of manat," APA cited him as saying.