The Central Bank of Azerbaijan (CBA) anticipates re-engaging in foreign exchange market interventions by the close of 2024, according to Chairman Taleh Kazimov. For the past two months, the CBA has not conducted foreign exchange auctions due to a significant surplus of foreign currency supply over demand. In April, this imbalance prompted the Central Bank to conduct buying interventions totaling $1 billion, bringing its reserves to $12.7 billion. This trend of excess supply over demand is also evident in the cash market and is projected to continue for the next two to three months, leading to the expectation of further CBA interventions later in the year.