Central Bank`s chair: We don`t intend to use strategic foreign exchange reserves

11.03.2020,16:42


March 11, Fineko/abc.az. We’re not currently thinking about using strategic foreign exchange reserves.

Elman Rustamov, chairman of the Central Bank of Azerbaijan (CBA), told reporters about the impact of sharp decline in oil prices on the manat exchange rate.

"The country has sufficient amount of foreign exchange reserves. Transfers to the State Oil Fund do not change. The Central Bank has its own reserves, and the Ministry of Finance has significant reserves. We’ll make full use of all resources. I think the problem will end faster than we expect. But we shouldn’t forget that we have strategic foreign exchange reserves," the CBA chair said.