BAKU, Azerbaijan, Sept. 2
By Zeyni Jafarov - Trend:
The foreign exchange reserves of the Central Bank of Azerbaijan (CBA) increased by 8.6 percent in August 2021 compared to the same month of 2020, exceeding $7.04 billion, Trend reports with reference to the CBA.
The CBA report notes that the CBA foreign exchange reserves grew by 8.4 percent over the month.
The growth of reserves is associated with an increase in the limit of special drawing rights (SDR) allocated to Azerbaijan by the International Monetary Fund (IMF) as part of the distribution of SDR in accordance with the quota in August.
Earlier, Chairman of the CBA Elman Rustamov said that the strategic foreign exchange reserves of Azerbaijan exceed $52.2 billion, which shows the stability of the national currency.
He also stated earlier that macroeconomic stability is maintained in Azerbaijan.
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