Azerbaijan's strategic FX reserves exceed global benchmark by over 13 times

Azerbaijan's strategic foreign exchange (FX) reserves have increased by $4.3 billion, reaching $89.4 billion, Taleh Kazimov, Governor of the Central Bank of Azerbaijan (CBA), said, Report informs.

Kazimov stated that the country's current reserves are sufficient to finance imports of goods and services for 40 months.

"According to international practice, the benchmark for this indicator should be three months. In Azerbaijan, however, this figure stands at 40 months, representing a substantial financial cushion," he said.