Central Bank of Azerbaijan buys $394M on foreign exchange market in June

The Central Bank of Azerbaijan carried out $394 million in purchase-oriented operations on the foreign exchange market in June, according to Report.

Amid a growing current account surplus and ongoing de-dollarization in the financial sector, supply in the foreign exchange market continues to exceed demand, the CBA said. This trend has been observed in both cash and non-cash segments.

In April, the central bank's purchase-oriented interventions totaled $1 billion. As a result of foreign exchange operations and income from reserve management, the bank's foreign currency reserves increased by $445 million in June and by $1.64 billion since the beginning of the year.

The central bank also noted that some of the purchased foreign currency could be reintroduced to the market later in 2026, depending on demand conditions, to help maintain market balance.

It added that it will continue to disclose information on any future foreign exchange market interventions aimed at macroeconomic stability.