Currency reserves of the Central Bank of Azerbaijan (CBA) amounted to $5.387 billion in February, up by $1.018 billion (23.3%) YoY, according to statistical data posted on the CBA website on March 7.
During the month, CBA reserves rose by $6.1 million.
Currency reserves of CBA increased by $1.36 billion or by 34.2 % in 2017 as compared to 2016.
CBA’s currency reserves started to decrease in July 2014. The reduction was at a slower pace (within a range of $20 million to $50 million) at the beginning, but a sharp decline began in December 2014 due to an increase in demand for US dollars in the country.
During 2016 the CBA currency reserves increased by 0.9% in March, 1.35% in April, 3.97% in May, 0.7% in August, and 0.14% in November. (Trend/Business World Magazine)
