Central Asian currencies under threat as Azerbaijan abandons peg
Central banks caught in dilemma as currencies hit by range of issues
Currencies in central Asia have been coming under intense pressure in recent months, with yesterday's decision by the Central Bank of Azerbaijan to end its dollar peg potentially making the problem worse.
The central bank said it would end its policy of targeting a fixed US dollar-manat exchange rate and move to targeting a basket of currencies.
With oil and gas representing around 90% of Azerbaijan's export revenues, the country has been hit hard by falling oil prices, and analysts speculated
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