Parliamentary Commission Recommends National Bank to Diversify Currency Basket
Azerbaijan, Baku, 17 March / corr. Trend U.Ismayilova / The National Bank of Azerbaijan (NBA) should consider the opportunity of diversifying the currency basket, which comprises of two currencies - euro and dollar, Ziyad Samadzade, the chairman of the parliamentary commission on economic issues, stated on 17 March.
"We intend to expand the currency basket and keep the money in other world leading currencies as well," Samadzade elaborated.
At present, NBA's currency reserves are kept in two currencies -US dollar and European currency.
Samadzade said that, in addition, the Azerbaijan Government intends to keep the currency reserves in the form of gold, taking into consideration that over the past time the world demand for gold has increase immensely.
According to the NBA, rate of US dollar with respect to AZN made up AZN 0.8377 and EUR rate was AZN 1.3269.
As of March, the country's currency reserves, managed by NBA, made up $4.015.5lmn, whereas together with assets of State Oil Fund of Azerbaijan these exceeded $7bln.
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