Over the past year Azerbaijan spent almost two-thirds of its gold and currency reserves. Thus, according to the Central Bank of Azerbaijan (CBA), on December 31st 2014 the volume of gold and currency reserves was estimated at 13.758 billion dollars, and by December 30th 2015 it was reduced to 5.016 billion dollars.
It is worth noting that today, at a special auction, the CBA sold 98 million dollars in order to provide banks with currency, to prevent surges of the manat, and to prevent speculations with the exchange rate. It is planned to conduct such auctions throughout the year, RBC reports.
