Azerbaijan's strategic currency reserves reach $47.7 billion

The strategic currency reserves of Azerbaijan in January-June 2013 increased by $1.6 billion, or 3.5% compared to the beginning of the year, reaching $47.7 billion, the official website of the Central Bank of Azerbaijan reported on Monday in its review of the monetary policy of the Bank for the first half of the year. 

"This amount is enough for three years of imports of goods and services. At the same time, strategic currency reserves are eight times the size of the external debt of the country," RIA Novosti quotes the report.