OREANDA-NEWS. On August 21, 2009 The Central Bank (NB) of Azerbaijan has reported of slowing tendency of fall of real effective rate (RER) of manat in July 2009 with reduction of strengthening rates of nominal effective rate (NER).

The CB informs that for Jan-July 2009 NER grew by 0.4% on commodity turnover (including growth of 1.7% on import and fall of 0.7% on export) against December 2008. By early June rise of this indicator was 2.9%, 4.1% and 1.8% respectively and following the results of first six months of 2009 0.5%, 1.7% and 0.5% - respectively.

In 2008, NER grew by 17.2% on commodity turnover (including growth of 21.1% on import and 15% on export) against December 2007.

At the same time for the reported period RER decline of 4.2% was observed on trade turnover (by 3.6% on import and 4.6% on export). In 2008 it grew by 31.5% on trade turnover (by 33.6% on import and 30.1% on export) and for first 5 months of 2009 by 1.8%, 1.4% and 2.3% and over half year - 5%, 4.5% and 5.4% respectively.

In accordance with data of CB, over 7 months ER decline of 2.3% was observed on trade turnover (by 2.6% on import and 1.4% on export) and NER rose on trade turnover by 4%, 3.5%  on import and 6.4% on export.

Last year the non-oil sector observed growth of RER by 31.2% (32.1% on import and 27.4% on export), and NER rose on trade turnover by 20.7% (20.9% on import and 20.8% on export).