BAKU, Azerbaijan, January 31. Azerbaijan's strategic foreign exchange reserves have grown by 17 percent and will amount to $68.5 billion by the end of 2023, said the Governor of the Central Bank of Azerbaijan (CBA) during a press conference on changes in the parameters of the discount rate, Trend reports.
“Meanwhile, last year, the strategic foreign exchange reserves of the CBA increased by 29.1 percent to $11.6 billion,” he added.
To note, the CBA’s strategic foreign exchange reserves increased by 9.39 percent, or $997.1 million, compared to the previous month.
Azerbaijan's strategic foreign exchange reserves are formed from the foreign exchange reserves of the CBA, the assets of the State Oil Fund (SOFAZ), and the treasury funds of the Ministry of Finance.
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