Azerbaijani Central Bank expects currency reserve increase to $16 billion
Baku, Azerbaijan, Dec.2
by Abbas Akhundov - Trend:
Central Bank of Azerbaijan (CBA) plans to increase the currency reserves at its disposal to $16 billion by late 2014, CBA Deputy Chairman Avtandil Babayev told Trend.
The CBA expects its reserves to increase to $14.5 billion by late 2013, according to Babayev.
"We expect the currency reserves to increase by $1.5 billion next year. However, our goal is not to increase the reserves, but to ensure their stability," CBA deputy chairman said.
The currency reserves of the CBA amount to $13.58 billion as of Nov.1.
The official exchange rate on Dec.2 is 0.7844 AZN/USD.