1 July 2026, Baku: A surplus in the current account and ongoing de-dollarization have kept foreign currency supply above demand in the foreign exchange market. Supply exceeded demand in both the cash and non-cash segments of the market.

The Central Bank conducted purchase interventions totaling $394 million in June. As previously communicated, Central Bank’s purchase intervention totaled $1 billion in April. As a result of foreign exchange market operations and income derived from the management of foreign exchange reserves, in June the Central Bank’s foreign exchange reserves increased by $445 million in June and by $1,64 billion since the beginning of the year.

Depending on market conditions, the Central Bank may reintroduce some or all of the foreign currency it has purchased into the market during the remainder of the year to help maintain market equilibrium.

If the Central Bank continues to conduct foreign exchange purchase or sale operations to preserve macroeconomic stability, it will publicly disclose those operations.

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