Azerbaijan’s Central Bank says its foreign currency reserves fell to $5 billion in December, down from $6.25 billion a month earlier.
The Central Bank said it burned through $8 billion of its reserves last year to support the national currency, manat.
The Baku-based regulator on Dec. 21 announced a shift to a free floating exchange rate after crude oil prices plunged.
Manat fell about 50 percent against the US dollar in 2015.
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