Azerbaijan liquidity surplus reaches 3.8B manats

As of late April, Azerbaijan's excess liquidity amounted to 3.8 billion manats ($2.23 billion), Chairman of the Central Bank of Azerbaijan (CBA) Taleh Kazimov said during a press conference held Wednesday, Report informs.

He noted that the figure stood at 2.9 billion manats ($1.7 billion) last year.

Kazimov also said that the Central Bank, using instruments within its monetary policy operational framework, has managed to keep the reference interest rate close to the policy corridor. He added that 89% of sterilization operations were carried out through one-week deposit auctions.