The surge in dollar sales by the State Oil Fund of Azerbaijan (SOFAZ) has raised questions about the stability of the manat and the potential implications for Azerbaijan’s economy. With a dramatic increase in November’s currency sales compared to October and a more than two-fold rise in sales for the first 11 months of 2024 compared to the previous year, concerns about the manat’s future are surfacing.

This situation invites comparisons to 2015 when currency sales by the Central Bank led to devaluation.

However, according to Azerbaijani economist Dr. Elshan........

© AzerNews