Azerbaijan, Baku, Nov. 12 / Trend /
The Azerbaijani Central Bank stressed an increase in all units of the money supply as of eight months of 2012 compared to a similar period of last year and all parameters compared to early 2012. This is a result of the influence of two factors: the increase in the quantity of money in circulation and the rate of their turnover.
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 physical entities) by 28.8 percent compared to Jan.-Sept. 2011.
So, as of Oct. 1, 2012, the rate of M2 was 12.402 billion manat compared to 9.630 billion manat as of Oct. 1, 2011 and 10.997.2 billion manat as of early 2012.
The amount of cash money supply (M0) as of Oct. 1, 2012 hit 8.315.4 billion manat compared to 6.465.9 billion manat as of Oct. 1, 2012 and 7.158.2 billion manat as of Jan.1, 2012
As of Oct. 1, 2012, Broad Money Supply (M3) totaled 15.343 billion manat or 21.3 percent more than in the same period of 2011. As of early Oct. 2011, this index hit 12.652.2 billion manat and 13.903.2 billion manat as of early 2012.
The transaction money (M1) amounted to 10.053.6 billion manat as of Oct. 1, 2012 compared to 7.809.7 billion manat as of early Oct. 2011 and 8.824.8 billion manat as of early 2012.
During the reporting period, non-cash money supply grew by 4.2 percent. This testifies to the effectiveness of the work to improve the non-cash payments in the country
The monetary base in Azerbaijan in 2012 returned to the phenomenal growth of the last year. In September, it rose by 2.46 percent compared to August.
According to the Azerbaijani Central Bank, as of October 1, 2012, the monetary base amounted to 9.299.8 billion manat (absolute record) compared to 9.076.3 billion manat as of Sept. 1, 8.275.4 billion manat as of January 1, 2012 and 7.206.5 billion manat as of Oct. 1, 2011.
The official exchange rate is 0,7850 AZN/USD on Nov. 12.