BAKU, Azerbaijan, June 24. In the first five months of 2026, cash foreign currency purchases by exchange offices in Azerbaijan exceeded sales by $311 million, according to the Central Bank of Azerbaijan (CBA), as supply outpaced demand in both cash and non-cash segments.
The Central Bank said the dollarization level of resident individuals’ deposits declined by 2.8 percentage points over the past 12 months, reaching 27% in May 2026.
At the same time, money transfers into the country rose by 28.8% year on year in January–May, totaling $560.1 million.
The CBA noted that amid a significant decline in commercial banks’ demand at currency auctions, it carried out purchase-oriented foreign exchange interventions.
As a result, the Central Bank’s foreign exchange reserves increased by $1.2 billion, or 10.4%, in the first five months of the year, reaching $12.7 billion.
