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Azerbaijan's strategic currency reserves increase

Finance Materials 28 October 2022 12:11
Baku, Azerbaijan Trend News Agency
Azerbaijan's strategic currency reserves increase

Azerbaijan's strategic currency reserves increased by 3.5 percent and amounted to $55.1 billion since the begging of 2022, Chairman of the Central Bank of Azerbaijan (CBA) Taleh Kazimov said during a press conference, Trend reports citing CBA.

"In addition, the foreign currency reserves of CBA increased by 8.4 percent from January through September 2022 - up to $7.7 billion," he said.

The Central Bank of Azerbaijan (CBA) adopted the decision to raise the discount rate by 0.25 percent, up to eight percent on October 28. The upper limit of the interest corridor remained at the level of 9.25 percent, while the lower limit was raised by one percent up to five percent.

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