​CBAR sold 300 million USD to commercial banks this week

Baku. 25 December. REPORT.AZ/ During the period of December 21 to 25 Central Bank of Azerbaijan (CBA) implemented intervention at the interbank foreign exchange market of about 300 million USD. Thus, the Central Bank's foreign exchange reserves came to 5.1 billion USD.

Report's analytical group notes, if a similar rate of decline continues, the currency reserves of the Central Bank downing from a minimum of 7 years (6 years' minimum already repeated) will fall below the line of 5 billion USD until the New Year holiday.

Last week (on the eve of the second devaluation), CBA sold currency of 493 million USD on the interbank market.