BAKU.03.12.2004. MEDIA-PRESS: The currency reserves of the National Bank of Azerbaijan (NBA) made $873.16 MM by state on the 1st December of 2004. As compared to the beginning of the year when they made $757.1 MM, growth made 15.33%.
Payments on credits received from the IMF made $58.32 MM (with taking into account main debt and rates of interest on credits). Taking into account payments of the IMF growth of currency reserves of the NBA made $174 MM for the current period.
For 11 months of the current year official rate of exchange of the national currency related to the US dollar has grown by 21 manats or by 0.43% and made 4902/$1.
We shall note according to forecasts, currency reserves of the NBA are to achieve level of $800 mm only by the end of the year. As the Chief of the Office of the NBA Mr. Elman Rustamov has said exceeding of this rate has been caused by growth prices for oil on the world market. "If everything goes further according to this schedule, by the end of the year currency reserves of Azerbaijan will reach $900 MM", - the Chief of the NBA has emphasized.