Bank of Russia: Azerbaijani manat still remains the most stable currency in the CIS area

The Azerbaijan’s manat still remains as one of the most stable currency in the region and CIS area, according to a ranking list released by Finmarket.

In terms of stability the Azerbaijani manat ranked first in the CIS area and second to the Iranian rial in the region, according the list based on the exchange rates of the Central Bank of Russia.
The manat is the 28th among currencies of 117 countries worldwide.

According to the report, the manat strengthened by 21.88% against the Russian ruble in February while Iranian rial held the first spot by strengthening by 23.79%.
In early March, 1 manat was trading at 44.1125 rubles compared to 42.8630 in February.

At the same time, the Azeri manat climbed 50% against the Russian ruble over the past year.
As seen in the ranking, Armenian dram rounds out the list at the 111th rank, by plunging 87.68% against the Russian currency within the past month.