Azerbaijan significantly increases bank reserves
Baku, Azerbaijan, Aug. 10
By Anvar Mammadov – Trend:
As of July 1, 2016, bank reserves in Azerbaijan amounted to 2.01 billion manats, which is almost three times more than 718.3 million manats in June 2015, the Central Bank of Azerbaijan (CBA) said in its report.
As of July 1, 2016, the expanded monetary base in Azerbaijan amounted to 8.33 billion manats, according to the report.
In annual terms, the monetary base in Azerbaijan increased by 6.8 percent. For comparison, this figure amounted to 7.81 billion manats in late June 2015. Compared to early 2016 (7.56 billion manats), the monetary base in Azerbaijan increased by 10.3 percent.
By July 1, 2016, the monetary base in manats amounted to 7.69 billion manats versus 7.6 billion manats as of July 1, 2015, according to the CBA.
During the reporting period, the money in circulation amounted to 6.31 billion manats, while this figure stood at 7.08 billion manats as of July 1, 2015.
The ratio of cash in circulation to monetary base was 75.6 percent as of July 1, 2016, which is 16.8 percentage points less than in July 1, 2015.