Azerbaijan’s strategic foreign exchange reserves rise 15.5% year-on-year

Azerbaijan’s strategic foreign exchange reserves stood at $85.173 billion as of April 1, up $11.406 billion, or 15.5%, from a year earlier.

Of the total, 86.3%, or $73.516 billion, was held by the State Oil Fund of Azerbaijan (SOFAZ), while 13.7%, or $11.657 billion, was held by the Central Bank of Azerbaijan (CBA).

In the first quarter, the country’s foreign exchange reserves increased by $116.3 million, or 0.1%. SOFAZ’s reserves fell by $25.6 million, while the CBA’s reserves rose by $141.9 million, or 1.2%.

Over the past year, SOFAZ’s reserves increased by $10.776 billion, or 17.2%, while the CBA’s reserves rose by $630.3 million, or 5.7%.

N.Tebrizli