In 2024, along with internal management, the Central Bank continued its cooperation with external managers in managing foreign currency reserves, APA-Economics reports, citing the Central Bank of Azerbaijan (CBA).
According to the information, as a result of the portfolio strategies applied in 2024 to take advantage of the favorable conditions and relatively increased profitability in foreign currency and bond markets, the CBA earned a record income of 491.6 million US dollars from the management of foreign currency assets. The investment portfolio's profitability amounted to 4.5%.
Note that the official foreign currency reserves of the Central Bank decreased by 653.5 million US dollars or 5.6% during the reporting year, mainly due to foreign currency sales in the domestic market and exchange rate differences, amounting to 10.96 billion US dollars by the end of 2024.
