BAKU, Azerbaijan, July 31. The Central Bank of
Azerbaijan (CBA) predicts that it will intervene in the currency
market again at the end of this year, Chairman of the CBA, Taleh
Kazimov, said at a press conference held today on the interest rate
corridor parameters, Trend's correspondent reports from the event.
In the 6 months of the current year, supply in the foreign
exchange market significantly exceeded demand. This was reflected
in both cash and non-cash segments. In the 6 months of 2026, the
purchase of cash foreign currency from customers by exchange
offices exceeded sales by $482 million. The dollarization level of
deposits of resident individuals decreased by 3.8 percentage points
over the last 12 months to 25.6% in June 2026.
Amid a sharp decrease in demand in the currency market and a
significant growth in supply, the CBA carried out a
purchase-oriented intervention. In the past period of the current
year, the bank's currency reserves rose by $2.2 billion, or 19.5%,
to $13.8 billion.
