The Central Bank of the Republic of Azerbaijan published an update on its foreign exchange market intervention, saying it bought USD 394 million in June as foreign currency supply continued to exceed demand. It linked that imbalance to a larger current account surplus and ongoing de-dollarization in the financial sector, with the pattern visible in both cash and non-cash market segments. The bank noted that its purchase intervention had reached USD 1 billion in April. It said foreign exchange reserves rose by USD 445 million in June and by USD 1.64 billion since the start of the year, reflecting both market operations and income from reserve management. All or part of the foreign currency bought from the market could be sold back during the rest of 2026 if market demand requires it to maintain balance. The central bank also said it will disclose any further participation in the foreign exchange market through purchase or sale operations.
Central Bank of the Republic of Azerbaijan2026-07-01
Central Bank of the Republic of Azerbaijan reports USD 394 million June foreign exchange purchases and signals possible resale later in 2026
The Central Bank of the Republic of Azerbaijan said it bought USD 394 million in the foreign exchange market in June as supply continued to exceed demand. It reported that reserves increased by USD 445 million in June and by USD 1.64 billion since the start of the year. The bank said some or all of the purchased foreign currency could be reintroduced to the market later in 2026 if needed.