Azerbaijan's strategic foreign exchange reserves have increased by $4.3 billion, reaching $89.4 billion, Governor of the Central Bank of Azerbaijan (CBA) Taleh Kazimov said at a press conference dedicated to the monetary policy decision, APA-Economics reports.
The CBA Governor noted that, according to international practice, a level of three months is considered sufficient for this indicator. Azerbaijan's reserves, however, exceed the broad money supply by 3.4 times.
Taleh Kazimov also stated that external sector indicators are favorable for the country. According to customs statistics, the foreign trade surplus amounted to $10.5 billion.