At present, Azerbaijan's strategic foreign exchange reserves exceed $ 50 billion.

Axar.az reports that the statement came from Central Bank Chairman Elman Rustamov at a press conference.

According to him, the Central Bank's foreign exchange reserves have increased by 3.4 per cent since the beginning of the year.

Rustamov said that since the beginning of the year, Azerbaijan's foreign trade balance is in surplus, which creates conditions for the protection of strategic foreign exchange reserves.

He added that after the complete liberation of the occupied territories of Azerbaijan, a banking network will be established there, which will have a positive impact on the country's economy.