Azerbaijan’s currency reserves exceed $88 billion

Azerbaijan’s strategic foreign exchange reserves stood at $88.4386 billion as of June 1, the State Statistics Committee said. 

The figure was up 15.2% year-on-year and 15% from the beginning of the year, according to official data.

Azerbaijan’s external public debt stood at $4.6424 billion as of June 1. Strategic foreign exchange reserves exceeded the country’s external public debt by about 19.1 times.

The high level of reserves is seen as one of the key buffers supporting Azerbaijan’s resilience to external shocks.

N.Tebrizli