Azerbaijan increases currency reserves by over 7% year-on-year

As of April 1, 2022, the currency stocks of Azerbaijan stood at $52,400.5 million, Report informs.

Of this, 86.4% or $45,264.0 million belonged to the State Oil Fund of Azerbaijan (SOFAZ), 13.6% or $7,136.5 million – to the Central Bank of Azerbaijan (CBA).

In the first quarter of 2022, the currency reserves increased by $300 million or 0.6%. SOFAZ’s reserves rose by $238.9 million or 0.6%, while the CBA’s stocks went up by $61.1 million or 0.9%.

Year-on-year, the foreign exchange reserves grew by $2,283.0 million or 6.7%. SOFAZ’s reserves increased by $2,502.7 million or 5.9%, CBA stocks rose by $780.3 million or 12.3%.