Baku:Azerbaijan’s strategic foreign exchange reserves have risen by $4.3 billion, reaching a total of $89.4 billion. This announcement was made by the Governor of the Central Bank of Azerbaijan (CBA), Taleh Kazimov, during a press conference concerning monetary policy decisions.
According to Azeri-Press news agency, Governor Kazimov highlighted that Azerbaijan’s reserves now surpass the broad money supply by 3.4 times, a significant margin above the international standard, which considers three months’ worth of reserves sufficient.
Kazimov further commented on the external sector indicators, which are currently favorable for Azerbaijan. He pointed out that, based on customs statistics, the country has achieved a foreign trade surplus of $10.5 billion.