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

Falling Oil Prices and Declining of Currency Reserves

Falling Oil Prices and Declining of Currency Reserves 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. According to the official data of Central Bank of Azerbaijan Republic (CBAR), which published on January 08 2015, decline has been observed in both total reserves and currency reserves. CESD underlines that... Read More