Saxo Bank: It will be more difficult to manage US-dollar rate in Azerbaijan

Baku. 23 October. REPORT.AZ/ If oil prices remain well north of 50 dollars a barrel may US dollar rate in Azerbaijan will be maintainable for a time.

Report informs, analysts of the Danish Saxo Bank, which provides internet banking services said.

According to bank, the USDAZN exchange rate is being managed around the 1.70 level.

“But over time, there will be strain for the exchange rate to adjust lower unless Azerbaijan cuts the policy rate significantly in 2018”.

Notably, earlier, China's Geely Holding Group, wanted to acquire 51.5% stake in Saxo Bank for above $ 800 mln.