BAKU, Azerbaijan, November 1. The Central Bank of Azerbaijan (CBA) will continue interventions in the foreign exchange market in the direction of sales until the end of this year, CBA Governor Taleh Kazimov said during a press conference in Baku today, Trend reports.
“In October, we sold foreign currency worth $424 million. Reason being, government needs must be met. We anticipate maintaining sales over the following two months as well,” he explained.
To note, stability has been maintained in the foreign exchange market this year, with demand fully met during currency auctions organized by the CBA. Overall, the foreign exchange market operates with a surplus balance of payments.
As a result, the CBA's foreign currency reserves decreased by $241 million over the past 10 months.
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