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Azerbaijan's money supply in national currency grows significantly over year

Economy Materials 28 February 2024 13:20 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, February 28. As of February 1, 2024, Azerbaijan's Money Supply Rate (M2) increased by 5.32 billion manat ($3.1 billion), or 18.4 percent, from the same period last year (from 28.9 billion manat, or $16.9 billion, to 34.2 billion manat, or $20.1 billion), Trend reports.

The data from the Central Bank of Azerbaijan (CBA) revealed that the cash supply in circulation (M0) grew by 2.1 billion manat, or $1.2 billion (16.28 percent) over the year, from 13.2 billion manat ($7.76 billion) to 15.4 billion manat ($9.06 billion), and the broad money supply (M3) increased by 2.9 billion manat, or $1.7 billion (6.86 percent), to 44.9 billion manat, or $26.4 billion (against 42.01 billion manat, or $24.7 billion a year earlier).

The transaction money (M1) per year increased by 4.08 billion manat, or 2.4 billion (16.51 percent), from 24.7 billion manat ($14.5 billion) to 28.8 billion manat ($16.9 billion).

Azerbaijan's money market parameters:

Parameters:

Volume (as of February 1, 2024)

Volume (as of February 1, 2023)

Broad Money Supply (М3)

44.9 billion manat, or $26.4 billion

42.01 billion manat ($24.7 billion)

Money Supply Rate (М2)

34.2 billion manat ($20.1 billion)

28.9 billion manat ($17 billion)

Transaction Money (М1)

28.8 billion manat ($16.9 billion)

24.7 billion manat ($14.5 billion)

Cash (М0)

15.4 billion manat
($9.07 billion)

13.26 billion manat
($7.8 billion)

Cashless

13.4 billion manat ($7.86 billion)

11.45 billion manat ($6.7 billion)

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