ING: Central Bank of Azerbaijan's forex reserves to reach $18.6B by 2026

The foreign exchange reserves of the Central Bank of Azerbaijan (CBA) are forecast to grow to $18.6 billion in 2026, Report informs, citing the Netherlands' largest banking group, ING Group.

In 2027, the volume of foreign exchange reserves will decrease to $17.6 billion, and by 2028, it will shrink to $15.6 billion.

The import coverage ratio provided by the reserves will correspond to 12.8 months in 2026, drop to 12.1 months in 2027, and decrease to 10.3 months in 2028.

As of September 30, 2026, the CBA's foreign exchange reserves were recorded at $15.363 billion. This is 33.4% more compared to the beginning of the year and 35.8% more over the past year.