Central Bank of Azerbaijan intends to place over $ 500 million in Asian markets
Baku, Azerbaijan, Dec.2
Abbas Akhundov - Trend:
The Central Bank of Azerbaijan (CBA) intends to purchase securities in the Asian markets in the amount of $ 500-600 million, CBA Deputy Chairman Avtandil Babayev told Trend.
The Central Bank is already in talks with new foreign managers to work in the Asian markets, mainly in the markets of Singapore, Malaysia, Indonesia, South Korea, Babayev said. He added that the Chinese market is also of interest to the Central Bank of Azerbaijan.
About $ 400 million of CBA's currency reserves has been transferred under the control of external managers, and the Central Bank intends to increase the amount of such funds up to one billion dollars, Babaev said .
As of November 1, CBA currency reserves stood at $13.58 billion.