Azerbaijan currency reserves had a fall of $2.5 bn
Baku, Fineko/abc.az. The Central Bank (CB) of Azerbaijan running payment balance statistics reports that for the 1st quarter of 2009 country’s strategic currency reserves slumped by 13.5% against rise of 2.5-fold in 2008 and 68.9% in 2007.
As of 1st April 2009 Azerbaijan’s strategic currency reserves reduced to
$160.467 bn versus $18.555 bn by 1st January 2009, $7.379 bn by 1st January 2008 and $4.369 bn by 1st January 2007.
For the reported period they formed from assets of State Oil Fund of Azerbaijan ($10.512 bn), currency deposits of the Finance Ministry ($375 million) and overall currency reserves of the NB ($5.159 bn).
In the 1st quarter of 2009 country’s reserves decreased by $2.5 bn, including drop of SOFAZ assets by $706.4 million, Finance Mnistry’s deposits by $494 million and CB overall reserves $1.3 bn.
“As of 1st April 2009 CB real currency reserves totaled $4.96 bn versus $6.137 bn for 2008 and $4.015 bn for 2007,” it was informed.
By early 2009 country’s reserves composed SOFAZ assets ($11.219 bn), Finance Ministry’s currency deposits ($869 million) and CB overall currency reserves ($6.467 bn).
In 2007 strategic currency reserves were formed from assets of the SOFAZ ($2.475 bn), currency deposits of the Ministry of Finance ($630.9 million) and overall currency reserves of the NB ($4.27 bn).
The Ministry of Finance transferred greater part of its currency deposits under management of the SOFAZ.
Copyright ABC.az All rights reserved.
Link for ABC.AZ is obliged using the websites material.
ru / en