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Around a quarter of Azerbaijani Central Bank’s foreign reserves kept in securities

Business Materials 10 December 2013 12:56

Baku, Azerbaijan, Dec. 10

By Emin Aliyev - Trend:

Some $3.16 billion or 23.99 percent of the total reserve assets of the Central Bank of Azerbaijan (CBA) in foreign currency were placed in securities in January-October 2013, CBA's statistics report said on Monday.

For comparison: some $3.94 billion out of CBA's total foreign exchange reserves were placed in securities in the same period of 2012.

According to the report, some $9.4 billion are on the accounts of other central banks, the Bank for International Settlements and the International Monetary Fund (IMF). Their volume increased by 33.33 percent compared to the same period in 2012, while total assets held by the Central Bank amounted to 71.37 percent.

Between January and October 2013, Azerbaijani Central Bank's total reserve assets in foreign currency amounted to $13.17 billion, increasing by 13.83 percent, compared to the same period of 2012. As of late October, Central Bank's reserves kept in foreign currencies amounted to $12.93 billion, increasing by 14.12 percent, compared to the same period of 2012 ($11.33 billion).

The official exchange rate is 0.7843 AZN/USD on Dec. 10.

Translated by NH

Edited by CN

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