BAKU, Azerbaijan, February 2. The monetary base in Azerbaijan increased as of February 1, 2023, the Central Bank of Azerbaijan (CBA) told Trend.
According to CBA, this figure amounted to 16.8 billion manat ($9.8 billion), which is 2.84 billion manat ($1.6 billion) or 20.23 percent higher compared to February 1, 2022 figure.
The current monetary base decreased by 3.3 percent compared to the same rate as of December 30, 2022, which was 17.4 billion manat ($10.2 billion).
In addition, the monetary base equaled 14.04 billion manat ($8.2 billion) as of February 1, 2022.
Furthermore, one of the short-term plans of the Central Bank of Azerbaijan (CBA) is to increase the profitability in the national currency, the CBA recently said.
The monetary base includes cash, free and obligatory reserves of commercial banks that are in circulation.