Baku: Azerbaijan’s strategic foreign exchange reserves increased by 9.4% to $77.4 billion in the first half of this year, Chairman of the Central Bank of Azerbaijan, Taleh Kazimov said at a press conference held today, APA-Economics reports.

According to Azeri-Press News Agency, the CBA’s foreign exchange reserves have reached $11.2 billion.

“The country’s strategic foreign exchange reserves are sufficient to finance goods and services for 36 months, which is a fairly high indicator,” the CBA Chairman noted.