Bank Of Baku

Central Bank of Azerbaijan intends to get $1.5 bln foreign currency next year

Central Bank of Azerbaijan intends to get $1.5 bln foreign currency next year
# 18 November 2014 07:46 (UTC +04:00)

According to him, the CB can interfere in the market and get $500 mln foreign currency by the end of this year. CB currency stocks are forecasted to make $15.5-15.7 bln as at the end of this year.

 

He says taking intervention forecast into consideration, the CB currency stocks may be $17 bln in 2016.

 

CB got $1,385 mln in 2010, $4,153 mln in 2011, $1,584 mln in 2012, $2,457 mln in 2013 and $967.4 mln in six months of 2014. In the first half of 2014, CB currency stocks rose 7% to $15.163 mln, which significantly exceed international norms on sufficiency of currency stocks.  

 

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