Azerbaijan's Central Bank says its foreign currency reserves declined by $18.7 million to $8.5 billion in July from June.
The bank's reserves have fallen from $13.7 billion at the end of 2014 as the Central Bank has intervened to support the country's manat currency.
The Central Bank's reserves rose in June by $89.4 million.
The holdings fell 44 percent as of July 31 from a year earlier.
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