Azerbaijan, Baku, April 13 / Trend N.Ismayilova /
Azerbaijan's strategic currency reserves may hit $40 billion in 2011, Central Bank of Azerbaijan Deputy Chairman Aftandil Babayev told journalists.
"The bank's currency reserves are now $6.7 billion. According to forecasts, they will exceed $8 billion. According to our estimates, $40 billion is the real mark for 2011," he said.
In 2010, the strategic currency reserves reached $30 billion.
The bank's currency reserves in the first quarter of this year increased by $310.8 million, or 4.9 percent, to $6.718 billion. As of late 2010, its currency reserves were $6.407 billion.
As of late January 2011, its currency reserves were $6.566 billion and $6.705 billion in February.
As of the first quarter of 2010, they were $5.51 billion.