Baku, Azerbaijan, April 25
By Emin Aliyev - Trend:
The volume of currency interventions of the Central Bank of Azerbaijan (CBA) hit $536 million in the first quarter of this year, CBA Deputy Chairman of the Board Khagani Abdullayev told the media on April 25.
"This is a normal level," he said. "It is necessary to take into account that we have sufficient current account surplus worth $ 12 billion in 2013," he added. "We hope that it will remain at approximately the same level by the end of this year as export volumes are large enough."
"The supply in the currency market continues to outpace demand," he added.
"The volume of currency intervention will hit about $ 1.5-2 billion as of 2014 according to our forecasts," Abdullayev added.
Translated by NH
Edited by CN
