BAKU, Azerbaijan, May 4
By Sadraddin Aghjayev - Trend:
The volume of foreign exchange reserves of the Central Bank of Azerbaijan (CBA) made up $6.4 billion as of late April 2021, Trend reports on May 4 referring to the CBA.
The volume of the CBA's foreign exchange reserves decreased by 0.5 percent (from $6.4 to $6.36 billion) per annum. The CBA's foreign exchange reserves grew by 0.2 percent or $11.4 million for the month.
Earlier, Chairman of the Central Bank of Azerbaijan Elman Rustamov said that Azerbaijan's strategic currency reserves exceed $51 billion, thus exceeding the gross domestic product (GDP) by 100 percent.
Rustamov stressed that the tightening of the COVID-19 quarantine regime in many countries is hampering the sustained recovery in oil demand. Nevertheless, the Azerbaijani manat rate is stable and macroeconomic stability in Azerbaijan is preserved.
----
Follow the author on Twitter: agdzhaev