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Central Bank of Azerbaijan reveals its foreign exchange reserves for 10M2020

Finance Materials 2 November 2020 18:41 (UTC +04:00)
Central Bank of Azerbaijan reveals its foreign exchange reserves for 10M2020

BAKU, Azerbaijan, Nov. 2

By Zeyni Jafarov – Trend:

The foreign exchange reserves of the Central Bank of Azerbaijan (CBA) amounted to $6.46 billion as of early November 2020, Trend reports citing CBA.

According to the bank, since the beginning of 2020, the CBA's foreign exchange reserves have grown by 3.35 percent (from $6.25 billion to $6.46 billion). On an annualized basis, the growth of foreign exchange reserves was 5.3 percent (from $6.14 billion to $6.46 billion).

During October 2020, the Central Bank's foreign exchange reserves decreased by 0.4 percent or $23.6 million.

The money supply in manat as of early October was 12.1 billion manat ($7.11 billion), which is 0.4 percent less compared to the end of 2019. On an annualized basis, the growth in the money supply amounted to 17.5 percent.

(1 USD = 1.7 manat on Nov. 2)

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