World Economy

Moving to $-€ Basket

Moving to  $-€ BasketMoving to  $-€ Basket

The Azeri central bank said on Monday it had abandoned its currency peg to the US dollar and would instead use a dollar-euro basket to manage the exchange rate of the country’s manat currency, Reuters said. “A decision has been made to conduct a policy based on a mechanism of a dual-currency basket, which includes the dollar and euro,” it said.