The Central Bank of the Republic of Azerbaijan purchased USD 1.5 billion in the foreign exchange market in August after supply exceeded demand amid a current account surplus and continued dedollarization in the financial sector. Its foreign exchange reserves have risen by USD 3.8 billion, or 33%, since the start of 2026 to a record USD 15.3 billion. The central bank may return some or all of the purchased foreign currency to the market if needed to meet future demand and maintain market balance. It will disclose any further purchases or sales undertaken to preserve macroeconomic stability.
2026-09-07Central Bank of the Republic of Azerbaijan
Central Bank of the Republic of Azerbaijan buys USD 1.5 billion in foreign exchange, reserves reach record USD 15.3 billion
The Central Bank of the Republic of Azerbaijan purchased USD 1.5 billion in foreign exchange in August as market supply exceeded demand. Its reserves have increased by 33% in 2026 to a record USD 15.3 billion, and some of the purchased currency may be returned to the market if demand rises.