Azerbaijan’s Central Bank reveals foreign exchange reserves

By Trend

The foreign exchange reserves of Azerbaijan’s Central Bank (CBA) amounted to $6.3 billion as of January 31, 2020, Trend reports referring to the statistical report of CBA.

Since the beginning of 2020, the CBA’s foreign exchange reserves with the amount of $6.2 billion increased by 2.2 percent. An annual increase of foreign exchange reserves amounted to 12.1 percent.

During January 2020, foreign exchange reserves of CBA increased by 140 million manat ($82.3 million).

The money supply exceeded 11.5 billion manat ($6.7 billion) at the end of January 2020, which is 5 percent less compared to results of 2019. On an annualized basis, the increase of the money supply amounted to 32.5 percent.

During January of this year, the money supply in Azerbaijan dropped by 607.5 million manat ($357.3 million).

(1 USD = 1.7 AZN on Feb. 5)