12:11 - 28.03.2024

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March 28, Fineko/abc.az. The foreign exchange market of Azerbaijan operates under conditions of surplus balance of payments, ABC.AZ reports with reference to the Central Bank of Azerbaijan.

The report says that by the end of 2023, the balance of payments had a surplus of 11.5% of GDP in the current account.

"According to forecasts, if current trends continue, it is expected that the current account will also have surplus by the end of 2024 (January forecast: $7-8 bn). At that, the continued decline in deposit dollarization in February indicates the continued confidence in the manat as a means of accumulation. Thus, in February, the level of dollarization of deposits of legal entities and individuals, excluding the financial sector, decreased by 1.3 percentage points compared with January and by 9 p.p. compared with February 2023," the CBA said.