Central Bank increases currency reserves by 0.5 pct in July

5 August 2020 16:21 (UTC+04:00)

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By Ayya Lmahamad

The currency reserves of the Central Bank of Azerbaijan increased by 0.5 percent in July compared to June.

As of July 30, the total currency reserves of the Central Bank amounted to $6 billion and 468.7 million, while at the end of June this figures was $6 billion and 436.3 million. Thus, the volume of currency reserves increased by 0.5 percent in the reported period.

Moreover, as of December 31, the currency reserves amounted to $5 billion and 962.8 million. Thus, in annual comparison the volume of currency reserves increased by $505.9 million or 8 percent.

Earlier, it was reported that the volume of strategic currency reserves of the State Oil Fund of Azerbaijan and the Central Bank have been increased.

As of July 30, the volume of strategic currency reserves of State Oil Fund and Central Bank increased by 1.8 percent, or $5.4 billion, amounting to $51.53 billion. Some 87.4 percent of these reserves account for assets of the State Oil Fund.