In the first four months of 2026, cash foreign currency purchases by exchange offices exceeded sales by 190 million US dollars.
The share of dollar-denominated funds in resident individuals' deposits fell by 2.1 percentage points in March to 28%.
Economist Khalid Karimli told Baku TV that the population no longer believes the manat will depreciate, given the economic and financial stability observed in recent years and high oil prices.
"In this regard, since manat deposits offer more favorable terms, people are gradually shifting from dollar deposits to manat deposits. The first point is a significant increase in confidence in the manat, and no serious risks are seen for the manat in the near future. The second point relates to economic activity," he noted.
According to Karimli, the decline in imports has also reduced demand for foreign currency. In the first quarter of 2026, the value of imports decreased by 29.3% compared to the same period last year.
It should be noted that the situation regarding currency sales at auctions did not affect the transfer from the State Oil Fund of Azerbaijan to the budget. The transfer to the state budget from the Fund was carried out in the projected amount of 4 billion 280 million manats.
During this period, the Central Bank of Azerbaijan's foreign exchange reserves also increased by 10.2% to reach 12.7 billion US dollars.
