...

Azerbaijani manat's exchange rate remains stable - WB

Finance Materials 16 May 2021 16:39 (UTC +04:00)
Azerbaijani manat's exchange rate remains stable - WB

BAKU, Azerbaijan, May 16

By Zeyni Jafarov - Trend:

Azerbaijani national currency manat's exchange rate remains stable at 1.7 AZN/USD amid growth in foreign currency sales in April 2021, Trend reports on May 16 referring to the monthly report of the World Bank (WB).

The State Oil Fund of Azerbaijan (SOFAZ) sold $509.9 million worth of currency in the reporting month, which is four percent less year-on-year and exceeds the monthly limit by 28.2 percent.

According to the report, as of late April this year, the foreign exchange reserves of the Central Bank of Azerbaijan stood at $6.37 billion, and the assets of the State Oil Fund (SOFAZ) - $42.8 billion, having decreased by two percent since the early 2021, reflecting fall in gold prices and depreciation of some currencies in the SOFAZ investment portfolio.

---

Follow the author on Twitter: @jafarov_zeyni

Tags:
Latest

Latest