Azerbaijan's foreign exchange reserves up by over 11%

As of July 1, Azerbaijan's strategic foreign exchange reserves amounted to $77.67 billion, Report informs.

As much as 85.6% of this figure, or $66.52 billion, belongs to the State Oil Fund of Azerbaijan (SOFAZ), while 14.4%, or $11.15 billion, is held by the Central Bank of Azerbaijan (CBA).

In the second quarter of this year, the country's foreign exchange reserves grew by $3.9 billion, or 5.3%. Specifically, SOFAZ's reserves increased by $3.78 billion, or 6%, and the CBA's reserves rose by $127.4 million, or 1.2%.

Over the past year, the country's reserves have increased by $7.93 billion, or 11.4%. During this period, SOFAZ's reserves rose by $8.52 billion, or 14.7%, while the CBA's reserves showed a decrease of $583.7 million, or 5%.

The table below indicates the quarterly figures of Azerbaijan's foreign exchange reserves over the past year: