The Central Bank of Azerbaijan (CBA) has announced the possibility of trade-oriented interventions in the currency market to address the increase in demand for foreign currency due to rising direct expenditures by the state and reduced obligations on trade credits by local enterprises. These interventions aim to support the government’s foreign currency spending for the rest of the year.
The CBA plans to use foreign currency acquired through previous purchasing interventions to carry out these operations. The focus will be on sales, allowing for part of the increased money supply from previous years’ interventions to be sterilized.
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