Azerbaijan's strategic currency reserves near $70B

In January-May of 2024, Azerbaijan's strategic currency reserves rose by $1.3 billion or 1.8% and amounted to $69.7 billion, Report informs, citing the Central Bank of Azerbaijan (CBA).

According to recent data, payment balance surplus plays a pivotal role in maintaining equilibrium in the currency market. In the first quarter of 2024, the ratio of the payment balance surplus in the current account to the Gross Domestic Product (GDP) stood at 10.1%