Baku: Azerbaijan’s strategic foreign exchange reserves increased by 14.7% or $10.5 billion to $81.5 billion this year, said Taleh Kazimov, Chairman of the Central Bank of Azerbaijan (CBA), at a press conference held today, APA-Economics reports.

According to Azeri-Press News Agency, Kazimov announced that the CBA’s foreign exchange reserves have reached $11.31 billion. He highlighted that the country’s strategic foreign exchange reserves are sufficient to finance goods and services for 37 months. Kazimov noted that this duration is a significant indicator of the country’s financial stability.