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Azerbaijan’s foreign currency reserves exceed $14 bln in 2013

January 13, 2014, 22:37 UTC+3 BAKU
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BAKU, January 13, /ITAR-TASS/. In 2013, the currency reserves of Azerbaijan’s Central Bank exceeded 14 billion U.S. dollars for the first time and were higher than forecasted, the bank said in its statement.

According to the bank, the republic’s currency reserves grew 21 percent in the period under review and reached 14.15 billion U.S. dollars.

The Azerbaijani currency reserves increased by three percent (0.41 billion U.S. dollars) in December 2013.

Initially, the Central Bank of Azerbaijan predicted the country’s currency reserves to reach 12 billion U.S. dollars before the end of 2013.

According to official statistics, Azerbaijan’s strategic reserves, which also include the assets of the State-Owned Oil Fund, exceeded 50 billion U.S. dollars in 2013.

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