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.