As per the results of 2006, the official currency reserves of the National Bank of Azerbaijan (NBA) amounted to $1,967 bln. The growth equaled 105% ($1,006 bln) as comprised to the beginning of the year, Trend reports quoting the statement of the NBA. The forecasts of the NBA justified themselves as a result of 2006, and the currency reserves of the NBA were expected to exceed $1.7 bln. According to the initial accountings, for 2007, the reserves of the NBA will importantly increase, by nearly $1 bln.
Presently the NBA has involved a new manager вЂ" Treasury of the World Bank вЂ" to manage the currencies. $100 mln have been transferred to the management of the WB Treasury Department. One of the terms is that the WB will, within 3-year Program of Consultation and Reserve Management, render assistance in raising the management potential of the NBA. Presently $250 mln have been transferred to the foreign management.