Currency reserves of Azerbaijan's Central Bank increase

BAKU, Azerbaijan, Nov. 4

By Eldar Janashvili - Trend:

As of Oct. 31, 2019, currency reserves of the Central Bank of Azerbaijan (CBA) amounted to over $6.1 billion, Trend reports referring to the bank’s statistical data.

Since the beginning of the year, the CBA's currency reserves have grown by 9.2 percent, from $5.6 billion. On an annualized basis, the growth in currency reserves amounted to 9.15 percent.

During October 2019, the CBA's currency reserves increased by110.6 million manat ($65 million) or 1.8 percent.

The money supply at the end of October 2019 amounted to just under 10.3 billion manat ($6 billion), which is 18.2 percent more than in 2018. On an annualized basis, the growth in the money supply amounted to 21 percent.

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