Currency reserves of Azerbaijan Central Bank grow first time since August 2014

Currency reserves of Azerbaijan Central Bank grow first time since August 1, 2014 The Central Bank of Azerbaijan (CBA) reports that devaluation of the national currency has finally helped to save its currency reserves from fall: in May they demonstrated growth for the first time since August 1, 2014. The CBA reports that as of 1 June 2015 its billion US currency reserves totaled $ 8.43 versus $ 8.397 billion US by 1 May, $9.47 bn by 1 April, $11.004... Read More

Reduced bank deposit rates will not lessen the financial risks in Azerbaijan

Reduced bank deposit rates will not lessen the financial risks in Azerbaijan Azerbaijan Deposit Insurance Fund (ADIF) decreased the maximum insurance rate on household deposits attracted by banks from 9% to 10 % on May 20, 2014. Centre for Economic and Social Development (CESD) announced that this is the second time of reduction in the 9 months- in August last year, the rate decreased from 12 to 10 % at a consistently high percentage of business... Read More