Azerbaijan's FX reserves show 4% annual growth

As of July 1, 2022, Azerbaijan's foreign exchange reserves amounted to over $52.678 billion, Report informs.

Of this amount, the share of the State Oil Fund of Azerbaijan (SOFAZ) made 86% or $45.306 billion and the Central Bank of Azerbaijan accounted for 14% or $7.371 billion.

In the second quarter of 2022, the country's foreign exchange reserves increased by $278.2 million, or 0.5%. SOFAZ's foreign exchange reserves increased by $42.8 million, or 0.1%, and the Central Bank's foreign exchange reserves rose by $235.4 million, or 3.3%.

Over the past year, Azerbaijan's foreign exchange reserves increased by $2.118 billion, or 4.2%. Over the year, SOFAZ's foreign exchange reserves increased by almost $1.202 billion, or 2.7%, and the Central Bank's foreign exchange reserves rose by $916.6 million, or 14.2%.