BAKU, Azerbaijan, July 29. Azerbaijan's strategic foreign exchange reserves increased by 1.8 percent in the first half of 2022, and amounted to $54.2 billion, Governor of Azerbaijani Central Bank (CBA) Taleh Kazimov said at a press conference on July 29, Trend reports.
CBA decided to leave the base rate unchanged - at the level of 7.75 percent, on July 29.
The upper limit of the interest corridor remained at the level of 9.25 percent, and the lower limit at the level of 6.25 percent.
According to Kazimov, strategic foreign exchange reserves continue to grow against the backdrop of a surplus balance of payments.
"This creates the basis for the balance of foreign exchange market in medium and long terms," Kazimov noted.
He said that the demand for foreign currency at foreign exchange auctions is decreasing.
"The offer at the currency auctions twice exceeded the demand in June," Kazimov added.