Foreign currency deposits in Nakhchivan’s banks more than double

As of May 1, 2025, deposits in banks operating within the Nakhchivan Autonomous Republic of Azerbaijan reached nearly 29.545 million manats ($17.379 million), reflecting a 51.6% increase year-on-year, Report informs, citing the Nakhchivan Office of the Central Bank of Azerbaijan (CBA).

Of the total deposits, 93.4% or 27.593 million manats ($16.231 million) were placed in national currency, while foreign currency deposits accounted for 6.6% 1.952 million manats ($1.148 million).

Over the past year, deposits in national currency rose by 48.6%, while foreign currency deposits more than doubled, increasing 2.1 times.