Baku: A total of $757 million was sold at the Central Bank's currency auctions in the first six months of 2026, Chairman of the Central Bank of Azerbaijan Taleh Kazimov said at a press conference, APA-Economics reports.

According to Azeri-Press News Agency, the figure marks a significant decrease compared to $2.7 billion in the same period of 2025 and $3.7 billion in 2024. Since April 1, a total of $203 million has been sold through 101 currency auctions. In addition, through July 30, the Central Bank conducted purchase-oriented interventions in the foreign exchange market, buying a total of $2.077 billion. These efforts in reserve management and purchase-oriented interventions have resulted in a 19.4% increase in the Central Bank's foreign exchange reserves, amounting to an addition of $2.2 billion and bringing the reserves to $13.7 billion.

The de-dollarization process in the banking sector is also ongoing, as reported by Kazimov. The dollarization level of resident individuals' deposits stood at 25.6% at the end of June 2026, a decrease of 3.8 percentage points from the start of the year. For non-resident individuals' deposits, the dollarization level was 53.5%, a reduction of 8.3 percentage points since the beginning of the year. During this period, manat-denominated deposits of individuals increased by 11.6%, or AZN 1.3 billion, leading to a total volume of individuals' manat deposits reaching AZN 12.5 billion by the end of June 2026.