The Central Bank of Azerbaijan (CBA) has announced that its currency reserves have overcome the psychological mark of $11 bn for the first time.

The CBA reports that as of 1st July 2012 its currency reserves totaled $11.046 bn (absolute maximum) versus $10.89 bn by 1 June.

This June’s rise of CBA currency reserves totaled 1.42% against May 2012 and a rise of 5.4% ($564.8 million) was observed since early 2012.

The CBA announced the forecast of currency reserves growth up to $12 bn for 2012.

www.azertag.com