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Money supply ups by 30 percent in Azerbaijan per year

Business Materials 19 July 2011 16:05

Azerbaijan, Baku, July 19 / Trend, N. Ismayilova /

The Central Bank of Azerbaijan (CBA) noted the increase in money supply (M2) (cash in circulation (outside banks) and remainders in the domestic currency on accounts of non-financial organizations, financial (excluding credit) organizations and phyiscal entities) by 2.6 percent in May and 30 percent compared to the same period of 2010, the CBA reported.

So, as of June 1, 2011, the rate of M2 was 8.392 million manat compared to 8.176.4 billion manat as of early May and 6.454 million manat as of June 1, 2010.
The amount of cash money supply (M0) as of June 1, 2011 hit 5.610.3 billion manat compared to 5.457.8 billion manat as of early May and 4.543.3 billion manat as of June 1, 2010.

As of early June, Broad Money Supply (M3) totaled 11.056.1 billion manat compared to 10.760.6 billion manat in early May and 8.929.8 billion manat as of June 1, 2010.

The transaction money (M1) amounted to 6.833.6 billion manat as of June 1 compared to 6.660.4 billion manat as of early May and 5.439.8 billion manat as of June 1, 2010.

The official exchange rate is 0.7862 manat to $1.

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