Azerbaijani Central Bank to get $200M from managing foreign exchange reserves
Baku, Azerbaijan, Sept. 30
By Kamala Mammadli – Trend:
The Central Bank of Azerbaijan (CBA) will get $200 million from managing foreign exchange reserves till late 2019, CBA chairman Elman Rustamov told reporters in Baku during an event dedicated to the 100th anniversary of the CBA, Trend reports.
“Presently, CBA intervention in the country's foreign exchange market is insignificant,” he added.
"That is, the CBA intervenes in the market only to support the liquidity of the banking sector and, if necessary, supports certain banks, for example, when it is necessary to ensure liquidity of the banking sector," Rustamov said.
"The central bank is increasing its foreign exchange reserves and presently, reserves exceed $6 billion," he added.
Rustamov stressed that increasing the reserves is not the bank’s main goal.
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