BAKU, Azerbaijan, Mar.2
By Zeyni Jafarov – Trend:
The volume of foreign exchange reserves of Azerbaijan's Central Bank (CBA) made up over $6.3 billion as of late February 2021, Trend reports on Mar.1 referring to the CBA.
The volume of the bank's foreign exchange reserves decreased by 0.5 percent (from $6.4 to $6.36 billion) compared to late February 2020, while in monthly terms grew by 0.04 percent or $2.4 million.
Earlier, Chairman of the Central Bank of Azerbaijan Elman Rustamov said that Azerbaijan's strategic currency reserves amount to over $51 billion, thus exceeding the gross domestic product (GDP) by 100 percent.
He stressed that the tightening of quarantine regimes in many countries is hampering a sustained recovery in oil demand. Despite this, the national currency (manat) is stable and macroeconomic stability in Azerbaijan is preserved.
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