Azeri central bank raises key refinancing rate to 7%

Azeri central bank raises key refinancing rate to 7%

Azerbaijan's central bank said on Friday it was raising its key refinancing rate to 7% from 5%, with immediate effect. The previous rate had been in force since February 15. According to Reuters, in 2015, gold and currency reserves of Azerbaijan decreased by 2.8 times to $5 billion amid catastrophic decrease in revenues from oil exports -the main source of the country's income.

 

 

 

Photo: ru.sputnik.az