CBA: Azerbaijan's strategic currency reserves keep well-diversified structure

Business Materials 13 April 2010 14:30 (UTC +04:00)

Azerbaijan, Baku, Apr. 13 / Trend N.Ismayilova /

Changes in world currency rates did not affect Azerbaijan's strategic currency reserves, Central Bank of Azerbaijan (CBA) Chairman Elman Rustamov said.

"As the country's strategic currency reserves, which are at the disposal of the CBA, are optimally diversified, they have not been exposed to changes in rates," Rustamov said.

According to the bank official, changes in world currency rates are not yet at a level that would radical measures on behalf of the CBA.

"As of the first quarter of 2010, the country's strategic currency reserves totaled $ 22 billion and have a well-diversified structure," he said.

CBA's foreign currency reserve growth in the first quarter was also observed at the expense of $400 million received from the State Oil Fund.

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