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Azerbaijani Central Bank expects increase in currency reserves up to $15 billion

Business Materials 15 December 2012 18:01 (UTC +04:00)
The Central Bank of Azerbaijan (CBA) plans to increase its currency reserves up to $15 billion by late 2013.

Azerbaijan, Baku, Dec. 15 / Trend A.Akhundov /

The Central Bank of Azerbaijan (CBA) plans to increase its currency reserves up to $15 billion by late 2013. This was told journalists by the deputy chairman of CBA board Avtandil Babayev.

"By the end of this year, currency reserves will reach $ 12 billion," Babayev said.

He said, this year the Central Bank conducted currency intervention at $ 1.5 billion, by the end of the year the figure is expected to reach two billion dollars, while next year it is projected at three billion dollars.

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