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By the decision of the Central Bank of Azerbaijan (CBA), the official exchange rate for February 21 is set at 1.05 manat, reports the Azerbaijani news agency "APA", referring to the CBA. The news agency also reports that according to the official exchange rate of the Central Bank on February 21, 1 euro is worth 1.1950 manat. Compared with February 20, the euro rate rose to 33.4%.

Since the change in exchange rate policy, the euro, which is a two-currency basket and at that time amounted to 0.8962 manat has strengthened against manat for 0.33%. In general, from the date of CBA statement on the change of exchange rate policy, that is, from February 16 (at that day the dollar was worth 0.7844 manat), the dollar strengthened against the manat with 33.9%.

According to the Azerbaijani news agency "Turan", the rate of manat to the dollar has collapsed by almost 33.5% and 30% to euro.
"Such a decision directly contradicts the previous assurances and statements of the authorities and the CBA, which spoke about the slow and discreet reduction of the manat aimed at bringing it into line with the situation on the world market. Today's decision will increase the panic in the financial markets, the demand for the dollar and the euro will increase too. All imports will become dramatically expensive," writes "Turan" noting that, contrary to the assertions of the Government, the dollar in Azerbaijan has become more expensive than manat and the manat fell by 34%.

According to the news portal "Haqqin.az", the "manat shock" by the Central Bank has suspended the operation of almost all foreign currency exchange centers. The correspondents of the site have bypassed dozens of exchangers, but all of them refused to make operations with manat, explaining that they still do not quite understand the situation and how it will affect the currency market. The owners of the exchange centers hope that this is still a temporary measure of the Central Bank and manat will soon regain its lost position.

According to the article the buying and selling of manat is also suspended by banks. Only Unibank is engaged in buying and selling of manats. The currency rate is set at bank as follows: Buying - 1,029 manats, sale - 1,071 manats.

According to "Haqqin.az" in the Ministry of Economic Development they believe that speculators and a number of suppliers can certainly take advantage of the decision on the devaluation of the manat and send prices of goods up. According to the website, there is an unprecedented influx of buyers in the shops of Baku who sweep away almost everything off the shelves in anticipation of the price rise. Correspondents of "Haqqin.az" walked around dozens of shops and almost in all of them there is a pandemonium. People buy essential commodities and food products.