CBA buys $2.1B on foreign exchange market

In 2023, the Central Bank of Azerbaijan (CBA) purchased $2.1 billion in the foreign exchange market, Report informs via the CBA.

“The main event that influenced the monetary situation since the last meeting, as expected, was the implementation of large-scale purchases of foreign currency for the fiscal sector. Foreign currency purchases contributed to the growth of liquidity in the banking system. The monetary base in manats as a whole increased by 19.6% in 2023, of which 14.6 percentage points occurred in December,” the CBA reported.