Azerbaijani currency reserves rose

Strategic currency reserves of Azerbaijan from the beginning of 2021 increased by 2.8% – to $ 52.3 billion, the Central Bank of Azerbaijan reports.

According to the CBA, the growth of reserves is due to positive trends in the oil market. In particular, since the beginning of this year, the average price of Brent oil was $ 64 per barrel, since the beginning of June – exceeded $ 70 per barrel (maximum for 2 years).

Strategic currency reserves of Azerbaijan are formed from the reserves of the CBA, the assets of the State Oil Fund and Treasury funds of the Ministry of Finance.