The central bank said the currency reserves grew by 0.6% or $32.6 million during November while dropped 2.3% or $122.6 million in October.
As shown in the diagram, the reserves declined in October alone and this is not a characteristic tendency.
Of the currency reserves, Azerbaijan holds 60% in the US dollar, 30% in the euro and 10% in pound sterling.
As a result of depreciation of foreign currencies lead to a decline in the country’s reserves. However, Azerbaijan’s didn’t suffer a remarkable loss during the global financial crisis like other countries.
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