Azerbaijan's strategic forex reserves rise to record $65.7 bln in January-April 2023 - central bank chairman

BAKU. May 3 (Interfax) - Azerbaijan's strategic foreign exchange reserves rose 12.3%, or $7.2 billion, to reach a record high of $65.7 billion in January-April 2023, Chairman of the Central Bank of Azerbaijan (CBA) Taleh Kazimov said on Wednesday at a press conference.

Kazimov said that the CBA's currency reserves increased 2.2%, or $193.5 million, to $9.2 billion in January-April.

Azerbaijan's strategic forex reserves are formed from the CBA's reserves, the assets of the State Oil Fund, and treasury funds of the Finance Ministry.