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CBA strengthening stability of Azerbaijan’s International Bank

Economy Materials 5 July 2022 17:32 (UTC +04:00)
CBA strengthening stability of Azerbaijan’s International Bank
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, July 5. The Central Bank of Azerbaijan (CBA) has sold $236 million to the International Bank of Azerbaijan (IBA) to regulate the bank's open currency position, Trend reports with reference to CBA.

According to CBA, this step will further strengthen the stability of IBA.

CBA said that the sale was carried out from bank’s currency reserves.

The foreign exchange reserves of CBA have increased by $297 million since the beginning of 2022 due to purchases in order to maintain balance in the foreign exchange market.

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