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Azerbaijani Central Bank sees growth in currency reserves

10 January 2019 15:09 (UTC+04:00)
Azerbaijani Central Bank sees growth in currency reserves

By Trend

Currency reserves of the Central Bank of Azerbaijan (CBA) amounted to $5,622.5 million by the end of December 2018, which is $287.9 million (5.4 percent) more than in the same period of 2017, according to statistical data posted on the CBA website Jan. 10, Trend reports.

CBA's reserves increased by $31.6 million during December.

Currency reserves of CBA increased by $1.36 billion or 34.2 percent in 2017.

Presently, CBA itself manages most of the currency reserves. CBA added that foreign managers can also participate in this process.

“Three foreign managers are involved in managing the CBA assets,” the bank said. “As part of managing the currency reserves, CBA invests in dollars, euros, pounds, as well as liquid and high-quality government and corporate debt securities.”

"No new currencies or metals were included in the CBA investment portfolio in 2018," the bank said.

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