Azerbaijan’s monetary reserves to reaach $15 bln

By late 2012 monetary reserves of the Central Bank of Azerbaijan (CBA) may increase up to $13-$15 billion, CBA head Elman Rustamov said on Wednesday. He said at present this figure hits $11 billion.

Also, the minister said, turnover of large denomination banknotes has significantly increased. In such cases, according to international practice, new banknotes are usually issued. It is also effective in terms of saving public funds. As Rustamov said yesterday, at present, Azerbaijan considers issuing banknotes in denomination of 200 and 500 manat.


/Trend/