Azerbaijani Strategic Currency Reserves Reaches $10bln

Oil&Gas Materials 8 April 2008 20:06 (UTC +04:00)

Azerbaijan, Baku, 8 April / Trend corr. I.Khalilova / Rufat Aslanli, the deputy chairman of National Bank of Azerbaijan (NBA) stated that NBA allocated $120mln to keep excessive consolidation of the national currency. As a result, the official currency reserves, under NBA, has increased more than six times and reached $4,260,7.

According to Aslanli, the strategic currency reserves of the country will reach $10mln in the near future.

World Bank forecasts the increase of currency reserves to $11,322bln in 2010. The figure will reach $9,210bln in 2008, $11,146bln in 2009. As for 2007, the figure exceeded $1bln

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