Central Bank Lost its currency reserves by 8.0 % in January 2015

Central Bank Lost its currency reserves by 8.0 % in January 2015 Caused by oil price decline in the world market, Central Bank’s intervention costs have decreased since August 2014 in Azerbaijan- Center for Economic and Social Development (CESD) reports. Central Bank Azerbaijan Republic’s (CBAR) currency reserves haven declined to $ 12.681 billion US since the world oil price dropped. CBAR’s currency reserves have decreased by around $ 4.0... Read More

Weekly intervention cost of Central Bank of Azerbaijan: $ 1.27 billion US

Weekly intervention cost of Central Bank of Azerbaijan: $ 1.27 billion US Central Bank of Azerbaijan (CBA) says that US currency is in feverish demand in the country because of Russia. According to CBA, demand for US dollars increased in Azerbaijan starting from mid-December under the influence of psychological factors due to sudden depreciation of Russian currency, as ABC news agency reports. “To maintain stability of the national currency CBA... Read More