A total of $757 million was sold at the Central Bank's currency auctions in the first six months of 2026, Chairman of the Central Bank of Azerbaijan Taleh Kazimov said at a press conference, APA-Economics reports.
"For comparison, this figure stood at $2.7 billion in the same period of 2025 and $3.7 billion in 2024. Since April 1, a total of $203 million has been sold through 101 currency auctions. Meanwhile, through July 30, the Central Bank conducted purchase-oriented interventions in the foreign exchange market, buying a total of $2.077 billion. As a result, thanks to reserve management and purchase-oriented interventions, the Central Bank's foreign exchange reserves increased by 19.4%, or $2.2 billion, reaching $13.7 billion," the chairman said.
According to him, the de-dollarization process in the banking sector is continuing.
"The dollarization level of resident individuals' deposits stood at 25.6% at the end of June 2026, representing a decrease of 3.8 percentage points compared to the beginning of the year. The dollarization level of non-resident individuals' deposits was 53.5%, down 8.3 percentage points since the beginning of the year. During the reporting period, manat-denominated deposits of individuals increased by 11.6%, or AZN 1.3 billion. As a result, the total volume of individuals' manat deposits reached AZN 12.5 billion at the end of June 2026," he added.
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