BAKU, Azerbaijan, October 29. During the first
nine months of 2026, exchange offices purchased $759 million more
in cash foreign currency from customers than they sold, the Central
Bank of Azerbaijan (CBA) said.
Foreign currency supply has significantly exceeded demand in
Azerbaijan’s foreign exchange market so far this year, both in cash
and non-cash segments.
The dollarization rate of deposits held by resident individuals
fell by 3.3 percentage points over the past 12 months, reaching
25.7% in September 2026.
Against a backdrop of sharply lower foreign currency demand and
increased supply, the CBA purchased foreign currency. Over the
first nine months of the year, the central bank’s foreign exchange
reserves rose by 33.4% to $15.4 billion, the statement said.
