Azerbaijan’s strategic reserves in January-November of the current year increased by 4.4% and exceeded $ 53 billion, the Central Bank of Azerbaijan said.
According to the CBA, the growth of reserves is due to positive trends in the oil market. In particular, since the beginning of the current year, the average price of Brent oil was $ 71 per barrel.
The balance of payments surplus makes it possible to increase the currency reserves of Azerbaijan. For the 11 months of this year, foreign exchange reserves rose $ 2.2 billion or 4.4% and exceed $ 53 billion. If current trends are saved, then in 2022, it is also expected to be significant Paying a balance of payments “, – emphasizes the CBA.
It is noted that the reserves of the CBA increased by 10.2% and exceeded $ 7 billion
Strategic currency reserves of Azerbaijan are formed from the reserves of the CBA, the assets of the State Oil Fund and Treasury Funds of the Ministry of Finance.