Azerbaijan’s strategic reserves in January-February 2022 increased by 0.4% – to $ 53.4 billion, the Central Bank of Azerbaijan said.
According to the CBA, the growth of reserves is due to positive trends, including in the oil and gas market. In particular, since the beginning of the current year, the average price of Brent oil was $ 96 per barrel, which is 35% higher than a year earlier.
For 2 months of this year, currency reserves increased by $ 195 million or 0.4% and amount to $ 53.4 billion in the event of the current trends in 2022, the payments surplus, with a high probability, will be at a double level. This is Also ensure the balance of the foreign exchange market, “it is noted in the CBA statement.
It is noted that the reserves of the CBA increased by 1.2% and approach $ 7.2 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.