Nation That Capped Last Year of Devaluations Is at It Again
- Most Azeri banks in capital stop selling dollars amid shortage
- The manat under pressure after biggest drop globally last year
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Azerbaijan can’t seem to turn the page on what’s been a year of currency jitters following its 50 percent devaluation in 2015.
Dollars are again in short supply in Azerbaijan’s capital, raising the specter of another crisis three months after previous bouts of currency shortage undermined banks and fanned consumer prices. Only one of the nine banks visited in central Baku on Monday sold dollars.