Baku, Azerbaijan, Jan. 11
By Anvar Mammadov – Trend:
Liabilities of local banks to the Central Bank of Azerbaijan (CBA) increased by 49.4 percent during the year and amounted to 7.3 billion Azerbaijani manats (AZN) as of Dec. 1, 2016, the CBA report on the results of 11 months of 2016 said Jan. 11.
The official exchange rate on Jan. 11 is 1.7742 AZN/USD.
The volume of liabilities increased by 36.2 percent as compared to the figure for early 2016, and decreased by 2.5 percent during November.
Liabilities of commercial banks to the CBA totaled 4.9 billion manats in January-November 2015, they amounted to 5.3 billion manats in early 2016 and 7.5 billion manats in late October.
The increase of liabilities is related to the attraction of additional funds from the CBA to keep their liquidity after manat’s devaluation (manat’s rate decreased by almost 100 percent during 2015).
The volume of CBA’s foreign liabilities remained unchanged during November and amounted to 2.2 million manats.
Official international reserves of the regulator decreased by 35.8 percent – from $6.2 billion to $4 billion during the year.
During the period, net liabilities of the CBA to the Azerbaijani government decreased by 2.4 percent and totaled 6 billion manats. The volume of net liabilities of the CBA to the Azerbaijani government amounted to 6.2 billion manats in January-November 2015.