Bank Of Baku

State Oil Fund of Azerbaijan quadruples assets since early year

State Oil Fund of Azerbaijan quadruples assets since early year
# 04 September 2008 08:17 (UTC +04:00)
As a result of expansion of development and export strategy of hydrocarbon reserves, the assets grew by 4 times from the level of USD 2.5 billion over the eight months of this year.
As at September 1, the National Bank of Azerbaijan’s official foreign exchange reserves reached USD 5.3 billion, up 32.4% on January 1.
That is to say, the country’s total strategic currency reserves reached USD 15.3 billion for the first time ever.
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