As of July 1, 2024, Azerbaijan’s strategic currency reserves amounted to $69.74 billion, Report informs.

The State Oil Fund (SOFAZ) accounted for 83.2% or $58 billion of the reserves, while the Central Bank of Azerbaijan (CBA) was responsible for 16.8% or $11.74 billion.

In the second quarter of 2024, the foreign exchange reserves of the country increased by $711 million or 1%. Thus, the foreign exchange reserves of SOFAZ increased by $627.8 million or 1.1%, while the foreign currency reserves of the CBA increased by 83.2 million or 0.7%.