Azerbaijan, Baku / Trend corr I. Khalilova / As a result of January to August, the official currency reserves at the disposal of the National Bank of Azerbaijan (NBA) totalled $2.979bln, according to the NBA. Compared to the beginning of the year the increase was by 51.5% ($1.012bln) and compared to 2006 it was $1.967bln.
The NBA expects that by the end of 2007 its currency reserves will exceed $3.5bln.
The bank's currency reserves increased owing to manat intervention (national currency) at $1bln. By the end of 2007, the figure will amount to $1.5bln.
The rise of currency reserves is taking place within the framework of the NBA's rate policy intended to support macroeconomic stability in Azerbaijan.