Azerbaijan strategic reserves in January – June 2022 increased by 1.8% to $ 54.2 billion, Talekh Kyazimov, chairman of the Central Bank, told reporters at a press conference on Friday.
“For 6 months of this year, Azerbaijan’s strategic reserves increased by 1.8% to $ 54.2 billion,” said Kyazimov, according to which reserves growth ensures a balance in the foreign exchange market.
The head of the Central Bank noted a decrease in demand for currency auctions. In particular, in June, the offer at foreign exchange auctions was 2 times higher than demand.
Azerbaijan strategic reserves are formed from the reserves of the Central Bank, assets of the State Oil Fund and Treasury funds of the Ministry of Finance.