Baku:The Central Bank of Azerbaijan (CBA) may make additional foreign exchange market purchases, ranging from $500 million to $1 billion, by the end of the year. This information was revealed by CBA Governor Taleh Kazimov during a press conference focused on monetary policy decisions.
According to Azeri-Press news agency, the Central Bank does not have a specific target for its foreign exchange reserves. When conducting foreign currency purchases, the impact of manat issuance on inflation is carefully evaluated.
The CBA Governor also highlighted that the Central Bank has already acquired $3.6 billion in foreign currency this year and has issued manat in return.