Monetary reserves of Central Bank of Azerbaijan increases in September
Azerbaijan, Baku, November 2 / Trend , N.Ismayilova /
In September, the monetary reserves of the Central Bank of Azerbaijan (CBA) increased by more than $100 million, or two percent, totaling $5,103.7 million, the CBA said. As of Aug. 31, bank's monetary reserves amounted to $5001.2 million.
Compared with the beginning of the year, CBA's monetary reserves declined by 16.8 percent. As of January 1, they amounted to $6.137 billion.
Compared with September of last year, the monetary reserves of CBA declined by 6.2 percent. As of September 30, 2008 this figure totaled $5,438.6 million.
In 2009, the CBA expects to receive approximately $ 50 million from the management of its monetary reserves. During the first half year, the revenues of the Central Bank amounted to $23 million. By the end of the year, the Central Bank predicts an increase in reserves up to $5.5 billion.
Today, nearly $350 million of monetary reserves are under the external management. CBA has three external managers - Treasury of the World Bank, the Swiss UBS Bank and U.S. JP Morgan.
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