Azerbaijan sees 17% growth in foreign exchange reserves

As of January 1 of this year, Azerbaijan's foreign exchange reserves amounted to $67,682.7 million, Report informs.

Of this, 82.8%, or $5,069.7 million, fell to the share of the State Oil Fund (SOFAZ) and 17.2%, or $11,613 million, to the Central Bank of Azerbaijan (CBA).

In the fourth quarter of last year, the country's foreign exchange reserves increased by $2,383.4 million, or 3.6%. Thus, the foreign exchange reserves of SOFAZ increased by $545.7 million, or 1%, and the foreign currency reserves of the CBA increased by $1,837.7 million, or 18.8%.

Over the past year, the country's foreign exchange reserves have increased by $9,653.4 million, or 16.6%. During the year, the foreign currency reserves of SOFAZ showed an increase of $7,036.1 million, or 14.3%, and the foreign currency reserves of the CBA - $2,617.3 million, or 29.1%.