CBA Deputy Chairman Aftandil Babayev noted that CB’s currency stocks will reach $ 12 bln by the end of 2012. This index is predicted to make $15 bln in 2013’s end.
Note that as of December 1, the currency stocks were equal to $11.7 bln, up 11.5% from early 2012. Growth of currency stocks was caused by currency sterilization carried out by CB. During the first 9 months of 2012, CB’s currency sterilization made $ 978 mln. The currency stocks increased by $1.022 bln within this period.
About currency sterilization, Babayev noted that this index was $1.5 bln in 2012, and is expected to reach $2 bln: “Manat intervention is expected to be $3 bln, next year”.
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