Azerbaijan has $70 billion of strategic foreign exchange reserves

In January-May 2024, Azerbaijan's strategic foreign exchange reserves grew by $1.3 billion or 1.8% to $69.7 billion. This was reported by the Central Bank of Azerbaijan. The balance of payments surplus plays a crucial role in maintaining equilibrium in the foreign exchange market, the report said. In the first quarter of 2024, the ratio of balance of payments surplus to current account surplus to gross domestic product (GDP) was 10.1%.

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