12:37 - 20.09.2023

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September 20, Fineko/abc.az. The Central Bank of Azerbaijan acquired currencies for $122 million within operations on the foreign exchange market.

"For the past 8 months, at 99% of currency auctions organized by the Central Bank, the demand for currency was lower than the supply. In general, during this period, CBA's operations on the foreign exchange market were in the nature of its purchase and amounted to $122 million," the CBA said in a statement on the discount rate.

At that, the CBA does not exclude that the bank will expand currency purchase operations to ensure balance in the foreign exchange market.

"Following the 1st half of 2023, the current account surplus of Azerbaijan's balance of payments amounted to about $5.2 billion or 14.5% of GDP. According to the baseline scenario, the account surplus by the end of 2023 will make up 15% of GDP," the CBA said in a statement.

The current account surplus of Azerbaijan's balance of payments in 2022 amounted to a record $23.478 bn (2.8-fold higher than in 2021) or 23.5% of GDP against the backdrop of high oil and gas prices.