Taleh Kazimov: Azerbaijani banks buying more foreign currency than selling it

The number of banking transactions in Azerbaijani banks for the purchase of foreign currency, including the US dollar, exceeds the number of transactions for their sale, Chairman of the Central Bank of Azerbaijan (CBA) Taleh Kazimov said at a press conference, Report informs.

He noted that this is related to the growing confidence of citizens in the national currency, as well as an increase in the population’s income in manats.

“Nevertheless, banks maintain an annual limit of 20,000 manats ($11,764) on the sale of foreign currency,” the head of the Central Bank said.