Azerbaijan, Baku, Sept. 10 / Trend, A. Akhundov /
The volume of foreign exchange intervention carried out by the Central Bank of Azerbaijan (CBA) in 2013 exceeded the expectations for this time of the year, CBA deputy chairman of the board Avtandil Babayev told Trend today.
"The volume of currency purchases were planned to hit $2 billion by late 2013, but today this figure has already reached $1.5 billion, which exceeds expectations for this period," he added. The interventions will continue and I think we will fulfill this forecast by the end of the year."
According to him, the situation with the currency in the local market remains stable.
"There are certain trends in the payment balance," he added. "For example, the balance of cash transfers was positive. But in general, one can not talk about a major change in supply. There are no significant deviations. The dynamics are stable."