BAKU, Azerbaijan, March 1. The foreign exchange reserves of the Azerbaijani Central Bank amounted to $9.043 billion as of February 28, 2023, Trend reports via the Central Bank.

This figure declined by $17.6 billion (0.19 percent) compared to the previous month and by $1.88 billion or 26.31 percent on annual basis.

The bank’s foreign exchange reserves settled at $7.159 billion as of February 28, 2022, and $9.061 billion – as of January 31, 2023.

Foreign exchange reserves are assets held by a country’s central bank, typically denominated in foreign currencies such as US dollars, euros, and yen. These reserves can be in the form of cash, bank deposits, or government securities and are used to support the national currency, maintain the balance of payments, and ensure economic stability.

Source: TREND News Agency