CBA expects high intervention in December

Business Materials 2 December 2011 16:38 (UTC +04:00)

Azerbaijan, Baku, Dec 2 /Trend A.Akhundov/

The Central Bank of Azerbaijan's intervention volume is $100-120 million within the first 11 months this year, CBA official Alim Guliyev said on Thursday.

"However, the volume of inflows to the country's foreign exchange market by the CBA may be high, in December, since a large part of the budget expenditures is in December, and most of them will be carried out through transfers from the State Oil Fund of Azerbaijan" Guliyev said.

According to Guliev, the intervention at the end of 2011 will depend on budgetary expenditures.