BAKU, Azerbaijan, October 28. The Central Bank of Azerbaijan (CBA) purchased foreign currency in the amount of $967 million since the beginning of 2022, the Executive Director of CBA said during a press conference, Trend reports citing CBA.
"Currently, the demand for the manat [country's national currency] in the foreign exchange market of Azerbaijan is high. It's likely that CBA's intervention in the foreign exchange market will remain purposeful until the end of this year. But the bank will pursue its monetary policy without affecting high economic activity," he said.
The foreign exchange reserves of the Central Bank amounted to over $7.6 billion. This indicator increased 2.18 percent or $163.7 million compared to the previous month and by 9.01 percent on annual basis.