Taleh Kazimov: Azerbaijan's strategic foreign exchange reserves estimated at $88 billion

Azerbaijan's strategic foreign exchange reserves increased by $2.9 billion (3.4%) in January–April, reaching $88 billion, Chairman of the Central Bank of Azerbaijan Taleh Kazimov said at a press conference on Wednesday.

"Foreign exchange reserves are sufficient to cover imports of goods for 38 months. Overall, reserves exceed the broad money supply in manats (M2) by 3.7 times," he noted.