Recent developments affecting the Azerbaijani manat (AZN):
- S&P Global Ratings Forecast: On December 7, 2024, S&P projected that the AZN will remain pegged to the US dollar at 1.7 AZN per USD until 2028, supported by regular interventions in the foreign exchange market. (news.az)
- Central Bank's Exchange Rate Projection: On January 22, 2025, the Chairman of the Central Bank of Azerbaijan, Taleh Kazimov, announced that the nominal effective exchange rate of the AZN is expected to strengthen by 8.2% in 2025, which is anticipated to reduce inflation by 2.2 percentage points. (uzbekistannewsgazette.com)
- IFC's Manat-Denominated Bond Issuance: On December 17, 2024, the International Finance Corporation (IFC) issued a four-year bond denominated in AZN, raising 34 million AZN to support local businesses and green projects in Azerbaijan. (ifc.org)
These developments suggest a stable outlook for the AZN, which may be beneficial for travelers, expats, and business owners planning transactions involving the currency.
Hungarian Forint Weekly Market Update
Updated 18 Jul 2026 • 23:49 GMT
The Hungarian Forint (HUF) remains under pressure amidst a broader risk-off environment in the Central and Eastern European (CEE) region, as highlighted by ING analysts. Despite recent selling pressure due to crowded long positions and profit-taking, the underlying attractiveness of Hungarian rates and currency continues to draw interest. With Hungarian inflation dropping to 1.7%, further rate cuts are anticipated in the coming months. Analysts expect EUR/HUF to maintain a trading range of 350–360, supported by seasonal carry demand.
Key watchpoints:
- Continued impact of regional risk-off sentiment on HUF and CEE FX.
- Effects of expected rate cuts on Hungarian monetary policy and currency stability.
- EUR/HUF's performance within the predicted trading range in response to economic data releases.