Fitch expects the Azerbaijani currency to remain broadly unchanged over the coming two years, based on stable oil price assumptions, a report by Fitch Ratings says.

"Macro-stability in Azerbaijan improved in 2017 after two years of turbulence. In the context of gradually recovering oil prices and tight monetary and fiscal policies, the exchange rate has been stable since April 2017 at around 1.70 to the US dollar," the report says.

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