Azerbaijan’s strategic foreign exchange reserves are estimated at $66.4 billion, Chairman of the Central Bank (CBA) Taleh Kazimov said.
“Strategic foreign exchange reserves for 10 months of 2023 increased by 13.4%, reaching $66.4 billion,” Kazimov said at a press conference.
At the same time, the assets of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for October 31 are equal to $55.1 billion (an increase of 12.3% or $ 6 billion since the beginning of the year), the Central Bank – $10.5 billion (an increase of 16.8% or $ 1.5 billion), the rest ($ 0.8 billion) – funds of the Ministry of Finance.
Azerbaijan’s strategic foreign exchange reserves are formed from the reserves of the CBA, SOFAZ assets and treasury funds of the Ministry of Finance.
Caspian Barrel
