Azerbaijan’s strategic currency reserves increase by 30 percent since early 2010
Azerbaijan, Baku, Oct.11 / Trend, I. Khalilova /
Azerbaijan's strategic currency reserves hit $26.5 billion, the Azerbaijani Finance Minister Samir Sharifov said at the Parliamentary committees' meeting on discussion of the draft of the public budget for 2011.
"The strategic currency reserves increased by 29.9 percent or $6.1 billion compared to early 2010," Sharifov said.
Strategic foreign exchange reserves are formed from CBA foreign exchange reserves, SOFAZ assets and government deposits.
Earlier it was reported that the currency reserves of the Central Bank of Azerbaijan (CBA) amounted to $6.057 billion in late third quarter. The figure is more by 895.9 million or 19 percent compared to early 2010.
Today 60 percent of the CBA's foreign exchange reserves are in dollars. The remaining 40 percent are in euro and pounds sterling.