Central Bank's net foreign assets decreased by 27%

Baku. 11 June. REPORT.AZ/ Net foreign assets of Central Bank of Azerbaijan (CBA) amounted to 8821,5 million manats as of May 1, 2015.This is less by 5.7% or 533 million manats compared to the same figure as of April 1. Compared with the same period last year, there is a decrease of 3 332 million manats. or 27.4%. Report was told in CBA.CBA's official international reserves amounted to 8 387.9 million dollars as of May 1.

11.4% or 1 084,2 million dollars reduction was observed compared with April 1.Compared with the same period last year, decrease of 6 483.2 million dollars, or 43.6% observed.

The analyst group of Report believes that the trend in reduction in the Central Bank's net foreign assets continue to reflect the decline in foreign exchange transactions. A slight decrease in the volume of currency transactions in the foreign exchange market is due to stabilization.

"In addition, the decline in official international reserves is due to the demand for currency in domestic market and the financing of import operations. In April, 920 million of foreign currency deposits. The increase in the demand for dollars in the domestic currency market still not shows slowdown.The official international reserves to finance the foreign exchange spent on import operations is one of the reasons for the decline", the analysts said.