Azeri currency reserves increase slowly

The currency reserves of the Azeri National Bank were worth USD 5.5 billion on October 1. This represents an increase of over USD 1.4 billion since 2007.

The Azeri National Bank states that it intended to purchase USD 4 billion by the end of 2008 but will now purchase only USD 2 billion as there is not much demand on the national currency, the Manat.