Baku:The Central Bank of Azerbaijan (CBA) has no plans to alter the current regulations regarding foreign currency purchases and sales, as stated by CBA Governor Taleh Kazimov during a press conference focused on the monetary policy decision.
According to Azeri-Press news agency, Kazimov explained that there are no stringent restrictions on foreign currency transactions at present. The primary focus of the existing requirements is on monitoring transactions and verifying the source of manat funds used for purchasing foreign currency.
Kazimov expressed surprise at reports suggesting difficulties in purchasing foreign currency if only one family member is employed. He suggested that some currency exchange offices might not be adequately explaining the requirements to customers. Furthermore, Kazimov noted that the demand for foreign currency could rise with increasing economic activity, and he emphasized the importance of maintaining stable rules rather than adjusting them frequently in response to short-term market changes.