The decision of the US Federal Reserve to raise its interest rate will affect the whole world, but it is premature to reach any conclusions, the Central Bank of Azerbaijan said.
"Of course, the decision will affect the whole world, including Azerbaijan’s national currency," Sputnik Azerbaijan cited the statement as saying.
"It’s too early to speak about the effects, we are conducting relevant analysis. As you know, the exchange rate of the manat is regulated in accordance with the currency basket. Therefore, we are seriously analyzing the ratio of the dollar and the euro," the CBA added.
The Central Bank commented on the new devaluation of the manat: “We are holding discussions. Depending on developments, the Central Bank will conduct its own exchange rate policy".
The regulator added that the share of the dollar and the euro currency basket is not expected to be changed.
The US Federal Reserve decided to raise the interest rate to 0.375% per annum.
