Azerbaijan’s Central Bank says it sold $1.13 billion last month to prevent a depreciation of the national currency, manat.
This led to a 8 percent decline in the bank’s currency reserves in December month on month.
The Central Bank also bought $1.27 billion in the first 11 months of 2014 to prevent the strengthening of manat against the dollar.
The bank’s quick interventions have been quite effective and ensured complete stability in the currency market, it said.
Central Bank governor Elman Rustamov said the regulator will use every tool in its possession to keep manat stable through this year.
ANN.Az
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