S&P: Stable growth to be observed in CBA’s currency reserves in next 3 years

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# 14:28
25 July 2020

The S&P Global Ratings international rating agency has forecasted that the official currency reserves of the Central Bank of Azerbaijan (CBA) will decrease by 5.4% and will fall to $ 5 922 mln. this year, APA-Economics reports citing the agency.

The stable growth will be observed in the CBA’s currency reserves in the next 3 years. Thus, the currency reserves will increase by 3.7% in 2021, by 3.1% in 2022, and by 3.5% in 2023.

Note that the CBA’s currency reserves made up $ 6 258 mln. last year, and $ 6 436.3 mln. as of July 1 of this year.

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THE OPERATION IS BEING PERFORMED