Azerbaijan increases foreign exchange reserves by 10% year-on-year

As of April 1, 2024, Azerbaijan’s strategic currency reserves stood at $69,027,200,000, Report informs.

Of this, 83.1%, or $57,372,800,000, fell to the share of the State Oil Fund of Azerbaijan, while 16.9%, or $11,654,400,000 – to the share of the Central Bank of Azerbaijan (CBA).

In eth first quarter of 2024, the currency reserves of the country increased by $1,344,500,000, or 2%. SOFAZ foreign exchange reserves increased by $1,303,100,000, or 2.3%, and the CBA currency stocks grew by $41.4 million, or 0.4%.

Year-on-year, the country's foreign exchange reserves have increased by $6,456.6 million, or 10.3%. During the year, the foreign currency reserves of SOFAZ showed an increase of $3,935.2 million, or 7.4%, and the foreign exchange reserves of the CBA went up $2,521.4 million, or 27.6%.