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    Central Bank's foreign exchange reserves continue to decline

    The annual decline in the rate reaches 60%

    Baku. 2 December. REPORT.AZ/ Official foreign exchange reserves of Central Bank of Azerbaijan Republic (CBAR) decreased by 589 mln USD or 8,62% and amounted to 6 245,6 mln USD as of December 1.

    Report informs referring to the CBA, there was a decline in currency reserves by 54.61% or 7 512,7 mln USD compared with the beginning of the year. Compared with the same period last year foreign exchange reserves declined by 58.35% or 8 750,7 mln USD.

    As of January 1, 2015 official foreign exchange reserves of the Central Bank totaled 13 758,3 mln USD.

    Reserves began to decline from January to February 1 amounted to 12 680,8 mln USD, as of March 1 - 11 004,4 mln USD, as of April 1 - 9 472,1 mln USD, as of May 1 - 8 387,9 mln USD as of June 1- 8 430,8 mln USD.

    In June, the volume of increased foreign exchange reserves amounted to 8 520,2 mln USD as of July 1 then continued to decline in July and August.The volume of reserves as of August 1 dropped to 8 501,5 mln USD, as of September 1 - 7 315.4 mln USD, as of October 1 to 7 044,2 mln USD, as of November 1 to 6 834,6 mln USD.

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