BAKU, Azerbaijan, July 31. Supply in
Azerbaijan's foreign exchange market significantly exceeded demand
during the period to date this year, both in the cash and non-cash
segments, the Central Bank of Azerbaijan (CBA) said.
During the first six months of 2026, exchange offices purchased
$482 million more in cash foreign currency from customers than they
sold, according to the CBA.
The dollarization rate of deposits held by resident individuals
fell by 3.8 percentage points over the past 12 months to 25.6% in
June 2026.
Amid a sharp decline in demand and a significant increase in
supply in the foreign exchange market, the Central Bank carried out
foreign currency purchase interventions, the statement said.
During the period to date this year, the CBA's foreign exchange
reserves increased by $2.2 billion, or 19.5%, to reach $13.8
billion, according to the statement.
