Baku, Fineko/abc.az. This October the Central Bank of Azerbaijan (CBA) lowered its currency reserves by $10.8 million that makes their decline by 0.02% against the figure as of 1st October.

For Jan-Oct 2009 CBA lost already 20.5% or $1.044 bn of its currency reserves.

The Bank says that as of 1st November 2009 its currency reserves reached $5.09 bn versus $5.1 bn by 1 October, 5.001 bn by 1st September, $4.787 bn by 1st August, $5.08 bn by 1st July, $5.026 bn by 1st June, $4.906 bn on 1st May, $4.96 bn by 1st April, $5.636 bn on 1st March, $5.975 bn on 1st February and $6.137 bn on 1st January 2009.

The last time CBA currency reserves were registered at the level less than $5 bn as of 1st June 2008 when they totaled $4.323 bn.

As of 1st July 2008 they totaled $5.225 bn and as of 1st August 2008 - $5.223 bn.

In 2008, growth of reserves made $2.12 bn or 52.8%. In 2008 the NB was ready to acquire up to $4 bn from the market but as budget expenditures go weak and absorption at the financial market rose, the Bank’s plans were not realized.

In 2007, currency reserves rose by $2.048 bn and reached $4.015 bn by December 31, and the Bank earned $150 million from their placement.

In 2006 due to interventions, the NB purchased $1 bn at the market and this year it expected to buy at least $1.5 bn. As a result of 2007, CBA planned to bring its currency reserves up to $3.5 bn.

11.11.2009 17:15