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Cash foreign currency purchases in Azerbaijan exceed sales by $311 million

24 June 2026 11:15 (UTC +04:00)

Cash foreign currency purchases by exchange offices exceeded sales by $311 million in the first five months of 2026, the Central Bank of Azerbaijan (CBA) said, APA-Economics reports.

According to the information, the dollarization level of resident individuals' deposits decreased by 2.8 percentage points over the past 12 months, falling to 27% in May 2026.

In January-May, the volume of money transfers entering the country increased by 28.8% compared to the corresponding period of last year and amounted to $560.1 million.

Amid a significant decline in banks' demand at foreign exchange auctions, the Central Bank carried out purchase-oriented interventions. During the first five months of the current year, the Central Bank's foreign exchange reserves increased by $1.2 billion, or 10.4%, reaching $12.7 billion.

Toghrul Guluzade

Central Bank of Azerbaijan CBA foreign currency cash currency exchange exchange offices dollarization resident deposits foreign exchange reserves currency auctions banking sector financial market money transfers remittances Azerbaijan economy APA-Economics foreign exchange market US dollar monetary policy banking demand reserves growth financial stability