11:45 - 28.10.2026

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October 28, Fineko/abc.az. The supply of foreign currency in Azerbaijan this September continued to exceed the demand, and banks bought $83.6 million more in cash from customers than they sold.

In the first 9 months of this year, the purchase of cash dollars by banks amounted to $1.47 billion, and the sale - $851.3 million. Thus, the positive difference between the purchase and sale reached $619.7 million (3.1-fold higher against Jan-Sept 2025).

According to the Central Bank, the current account surplus of the balance of payments and the ongoing de-dollarization in the financial sector led to significant excess of supply over demand in the foreign exchange market.

Elrad Seydiyev, director general of the regulatory authority, noted that the high supply of currency creates pressure towards strengthening the manat, and the Central Bank's purchase of dollars from the market serves both to maintain balance and increase foreign exchange reserves.

At the end of September, the CBA official foreign exchange reserves rose to $15 billion 363.4 million, while its overall strategic foreign exchange reserves grew up to $89.38 billion.

The current account surplus, which is one of the main macroeconomic factors of the current situation in the foreign exchange market, totaled $4.74 billion (12.4% of GDP) in the 1st half of 2026, and, according to the CBA forecast, this figure is to reach $6.1 billion by the end of the year.