In the reporting period, the currency reserves declined 24.1% or $12,271,600,000: “the decline was caused by Central Bank’s multibillion-dollar interventions to prevent negative impacts of low oil price on the exchange rate of manat”.
87% or $33.57 bln of the reserves belonged to SOFAZ, 13% or $5.03 bln to CBA.
During the same period, SOFAZ currency reserves dropped 9.5% or $3.53 bln to $33.57 bln.
Cheap oil and CB multibillion-dollar interventions reduced currency reserves 24% - SOFAZ
29 June 2016
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Strategic currency reserves of the State Oil Fund of Azerbaijan (SOFAZ) and Central Bank of Azerbaijan (CBA) made $38,590,800,000 in 2015.
