12:00 - 31.01.2020

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January 31, Fineko/abc.az. The policy pursued in 2019 contributed to the growth of strategic foreign exchange reserves in Azerbaijan.

ABC.AZ reports that the above-said statement was made by Central Bank’s chairman Elman Rustamov at a traditional press conference on the announcement of the parameters of the interest rate corridor.

Touching on other questions, Rustamov pointed out that monetary conditions have led to an increase in the value of money. Despite a number of shortcomings in the financial sector, 600,000 citizens were paid compensations.

He stressed that the execution of the presidential decree led to the recovery of a number of banks: "Deposits of the population, which is the main source of income for banks, increased by 3.4%. Deposits of individuals in US dollars in banks decreased from 63% in 2018 to 52% in 2019. The number of cards in circulation grew by 13%. Non-cash transactions with cards increased by 58%."

By Elmir Murad