Azerbaijan banks told to limit sale of dollars: report

In a letter to banks, the regulator promised that there will be no shortage of dollars as the New Year holiday begins.

"The move is aimed at ending the frenzy in the market,” the source said, according to APA. 

The Central Bank didn't respond to calls seeking comment.

The sale of dollars was all but stopped in Azerbaijan in the past few days as people rushed to banks to buy the US currency in anticipation of another devaluation of manat.

Manat fell 33 percent against the dollar after the Central Bank announced a shift to a floating exchange rate on Dec. 1.