CBA: Azerbaijan increases volume of currency reserves

BAKU, Azerbaijan, July 30 By Eldar Janashvili - Trend: The volume of the strategic currency reserves of the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA) as of July 30, 2020 amounted to $51.53 billion, Chairman of the CBA Board Elman Rustamov said. Rustamov made the remark at a press conference on changing the discount rate, Trend reports. “According to the data, the volume of the country's strategic foreign exchange reserves increased by $5.4 billion or 1.8 percent compared to the end of last year. 87.4 percent of these reserves account for the assets of the State Oil Fund,” the chairman noted. --- Follow the author on Twitter: @eldarjanashvili