Currency reserves of Azerbaijan Central Bank dropped below $ 9.5 billion US

Currency reserves of Azerbaijan Central Bank dropped below $ 9.5 billion US The Central Bank of Azerbaijan (CBA) reports that devaluation failed to save its currency reserves from fall started in December 2014.The CBA reports that as of 1 April 2015 its currency reserves totaled $9.472 billion US versus $11.004 billion US by 1 March, $12.68 billion US by 1 February $13.758 billon US by 1 January 2015. It is the first time that CBA’s currency reserves... Read More

Will Azerbaijani National Currency be re-depreciated in 2015?

Will Azerbaijani National Currency be re-depreciated in 2015? The future of the Azerbaijani national currency is the hot topic in the existing agenda. Although Central Bank of Azerbaijan (CBA) announced on April 02, 2015 that no sudden changes in the currency policy are expected since the oil prices will be likely remain at the level of $50-55 per barrel until the end of the year: “It’s unlikely that the manat, Azerbaijan’s national currency,... Read More