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The G7 countries have immobilized about $280 billion of Russian central bank assets in response to President Vladimir Putin’s February 2022 invasion of Ukraine, with the majority held in Europe through the Belgium-based clearing house Euroclear.

"We forecast rising portfolio inflows and narrowing current account deficits over the next two years, alongside declining inflation and dollarization, although progress will be slow and reserve accumulation modest as the central bank limits depreciation of the Turkish lira," the agency said.

Their questions to their Western counterparts cut to the heart of a fraught debate over whether hundreds of billions of euros in frozen Russian central bank assets should be mobilized to help fund Ukraine as the conflict there drags into a third year.

According to the official exchange rates of the Central Bank of Azerbaijan for today, the US dollar remained unchanged at 1.7000 manat, euro increased by 0.1% to 1.8246 manat, and the Russian ruble went up by 1.1% to 0.0185 manat.

Each year, the event is attended by several thousand people, including finance ministers, central bank governors, senior government officials, representatives of the private sector, international organizations, civil societies, as well as youth and the media.

According to the official exchange rates of the Central Bank of Azerbaijan for today, the US dollar remained unchanged at 1.7000 manat, euro increased by 0.6% to 1.8224 manat, and the Russian ruble remained unchanged at 0.0183 manat.

The foreign exchange reserves of the Central Bank of Azerbaijan (CBA) reached $11.66 billion as of May 1, which is 0.1% more than on April 1, Report informs, citing the CBA. The CBA's foreign exchange reserves increased by 0.4% compared to the beginning of the year and by 26.9% year-on-year.

The US central bank also announced it will scale back the pace at which it is shrinking its balance sheet starting on June 1, allowing only $25 billion in Treasury bonds to run off each month versus the current $60 billion.

The monetary base in Azerbaijan was 19.99 billion manats ($11.75 billion) as of May 1, which is 2% less than the figure as of April 1, Report informs citing the Central Bank of Azerbaijan.

The Central Bank of Azerbaijan (CBA) predicts the average price of one barrel of oil at the level of $85.7 in 2024, Taleh Kazimov, chairman of the CBA, said at a press conference, Report informs. Meanwhile in 2025, the average price of one barrel of oil is expected to be $83.5, he said.