BAKU, Azerbaijan, October 29. During the first nine months of 2026, exchange offices purchased $759 million more in cash foreign currency from customers than they sold, the Central Bank of Azerbaijan (CBA) said.
Foreign currency supply has significantly exceeded demand in Azerbaijan’s foreign exchange market so far this year, both in cash and non-cash segments.
The dollarization rate of deposits held by resident individuals fell by 3.3 percentage points over the past 12 months, reaching 25.7% in September 2026.
Against a backdrop of sharply lower foreign currency demand and increased supply, the CBA purchased foreign currency. Over the first nine months of the year, the central bank’s foreign exchange reserves rose by 33.4% to $15.4 billion, the statement said.
