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Azeri central bank devalues currency by 33.5 pct to dollar, 30 pct to euro


Feb 21 (Reuters) - Azeri central bank set a new rate for the manat currency on Saturday, devaluing it by 33.5 percent to the U.S. dollar and by 30 percent to euro.

The manat was set at 1.05 to the dollar and 1.19 to the euro, down from 0.78 manats to the dollar and 0.89 to the euro on Friday.

"This decision was made in order to support diversification of Azerbaijan's economy, strengthen its international compatibility and export potential as well as to provide sustainability of balance of payment," the central bank said in a statement. (Reporting by Nailia Bagirova; Writing by Margarita Antidze; Editing by Alison Williams)



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