Azerbaijan discloses strategic foreign exchange reserves

The volume of Azerbaijan's strategic foreign exchange reserves began to exceed $51 billion by early 2021, Chairman of the Central Bank of Azerbaijan (CBA) Elman Rustamov said at a press conference in Baku on Friday. 

“As in previous years, the CBA constantly keeps this issue on the agenda,” the chairman said. “Thus, it is possible to see the results of the monetary policy which is being pursued in this regard.”

"Azerbaijan’s strategic foreign exchange reserves increased during January 2021 and approached $51.4 billion," Rustamov noted. 

“In terms of a surplus foreign trade balance, Azerbaijan's strategic foreign exchange reserves, exceeding the annual gross domestic product (GDP), amounted to about $50 billion in late 2020,” Rustamov added.


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