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Azerbaijani National Bank Divides Exchange Reserves Portfolio

Business Materials 12 September 2008 15:52 (UTC +04:00)

Azerbaijan, Baku, 12 September / Trend corr. U.Ismayilova / The National Bank of Azerbaijan (NBA) divided exchange reserves into two parts, including operating and investment, Elman Rustamov, the head of the NBA said on 12 September.

"At present, NBA's exchange reserves exceed $5.3bln and a big part of portfolio - about 60% is preserved in the US currency and the rest 40% in Euro and Pound," Rustamov said.

According to the NBA President, investment part makes up 60% of the lump amount.

Operating part of portfolio amounts to about $2bln-$2.5bln and a big part of the portfolio - 90% is preserved in the US currency.

"Operating portfolio is designated, basically, to serve interior market and foreign obligations," Rustamov said.

A total of 45 banks operate in Azerbaijan. General exchange reserves of the NBA amounted to $5.3bln on 1 September.

The correspondent can be contacted at [email protected]

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