Dollar rate to go up since May - research
The rate of US dollar could rise in Azerbaijan since May, despite
its falling rate observed in markets worldwide, local researchers
estimated.
Experts of the Economic and Social Development Center concluded that the dollar's being week in the past months was due to the economic downturn observed in the United States since late 2007. Moreover, the country's central bank, Federal Reserve (the Fed), has pursued a course of keeping the dollar rate rather low compared to other currencies in recent years.
However, Washington's latest steps aimed at bolstering US currency enable optimistic projections about the future of the dollar, the center said. The crisis in the US economy began to subside after the Fed altered interest rates.
Financial institutions have confirmed that the dollar is expected to strengthen by mid-2008. Influential US Financial Forecast Center predicts that the ratio of dollar against the euro will rise to 1.30 in the summer.
US dollar is currently exchanged for 0.83 manats (national currency) in Azerbaijan. The dollar rate has been on steady decline in the country in the past months.
Experts of the Economic and Social Development Center concluded that the dollar's being week in the past months was due to the economic downturn observed in the United States since late 2007. Moreover, the country's central bank, Federal Reserve (the Fed), has pursued a course of keeping the dollar rate rather low compared to other currencies in recent years.
However, Washington's latest steps aimed at bolstering US currency enable optimistic projections about the future of the dollar, the center said. The crisis in the US economy began to subside after the Fed altered interest rates.
Financial institutions have confirmed that the dollar is expected to strengthen by mid-2008. Influential US Financial Forecast Center predicts that the ratio of dollar against the euro will rise to 1.30 in the summer.
US dollar is currently exchanged for 0.83 manats (national currency) in Azerbaijan. The dollar rate has been on steady decline in the country in the past months.
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