Azerbaijan, Baku, March 5 / Trend , N. Ismayilova/
In 2010, the Central Bank of Azerbaijan (CBA) carried out intervention in the amount of more than $10 million, Alim Guliyev, First Deputy Chairman of the CBA Board, reported on Friday.
"The Central Bank worked this year in the mode of regulation of currency market. Decrease of the CBA currency reserves relates not to preservation of stability of the national currency's exchange rate but to volatility of EUR and US dollar's exchange rate," Guliyev said.
As of the end of February 2010, CBA currency reserves were equivalent to $5.074.5 million.
In 2009, the volume of Azerbaijan's currency market increased by 8.3 percent up to $37.5 billion. Owing to a flexible regulation of currency market, the exchange rate of manat kept its stability and fell only by 0.26 percent to US dollar in 2009.
Last year, currency intervention by the CBA exceeded $1 billion.
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