BAKU, Azerbaijan, April 4. The foreign exchange reserves of the Azerbaijani Central Bank amounted to $9.133 billion as of March 31, 2023, Trend reports via the Central Bank.
According to the bank, this figure is 0.99 percent or $89.9 million more than in the previous month, and 27.94 percent or $1.994 billion more than in the same period of the previous year.
The bank’s foreign exchange reserves settled at $7.138 billion as of March 31, 2022, and $9.043 billion as of February 28, 2023.
Foreign exchange reserves are assets held by a country's central bank, typically denominated in foreign currencies such as US dollars, euros, and yen. These reserves can be in the form of cash, bank deposits, or government securities and are used to support the national currency, maintain the balance of payments, and ensure economic stability.