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Governor: CBA may purchase up to $1 billion from foreign exchange market by year-end

29 October 2026 11:48 (UTC +04:00)

The Central Bank of Azerbaijan (CBA) may make additional purchases of approximately $500 million to $1 billion in the foreign exchange market by the end of the year, CBA Governor Taleh Kazimov, stated at a press conference dedicated to the monetary policy decision, APA-Economics reports.

According to him, the Central Bank has no specific target or limit for bringing its foreign exchange reserves to a certain level. During foreign currency purchases, the possible impact of manat issuance on inflation is assessed.

The CBA Governor noted that the Central Bank has purchased $3.6 billion in foreign currency this year and issued manat in exchange.

Rahim Tariverdiyev

Azerbaijan Central Bank of Azerbaijan Taleh Kazimov foreign exchange market currency purchases foreign exchange reserves manat issuance inflation monetary policy