Foreign currency reserves drop nearly $3 bln in Azerbaijan

Baku. 14 February. REPORT.AZ/ Total volume of foreign currency reserves amounted to $37 121.4 mln as of January 1, 2017. 

Report informs, 89.29% or $33.147 bln accounted for the State Oil Fund of Azerbaijan (SOFAZ) and $3 974,4 mln for Central Bank of Azerbaijan (CBA).In the fourth quarter of last year foreign exchange reserves decreased by 833,4 mln USD or 7,09% 2. In the last three months Fund's reserves decreased by 2 675,1 mln USD or 7.47% , while Central Bank's reserves fell by 158.3 mln USD or 3.83%.

Notably, in 2016, total foreign exchange reserves decreased by 1 469,4 mln USD 3.81%.