Azerbaijan, Baku, July 12 / Trend /
The official foreign exchange reserves of the Central Bank of Azerbaijan (
CBA) increased by 539.8 million (8.4 percent) in the first half of 2011 and reached 6.947.5 billion as of late second quarter of 2011, the CBA reported on Tuesday.
According to the CBA forecasts, the foreign exchange reserves will exceed $8 billion in late 2011.
The foreign exchange reserves of the CBA in the first quarter of 2011 increased by $310.8 million, or 4.9 percent, up to 6.718.4 billion. The foreign exchange reserves amounted to 6.407.6 billion in late 2010.