Expanded monetary base increases by over 10 percent in Azerbaijan in 2012
Azerbaijan, Baku, Dec. 29 / Trend /
The monetary base in manat in Azerbaijan in 2012 returned to the phenomenal growth rates of last year.
According to the Azerbaijani Central Bank's statistics data, as of Nov. 1, 2012, the monetary base in manat totaled 9.291.3 billion manat compared to 9.299.8 billion manat (absolute record) as of Oct. 1, 2011, 8.275.3 billion manat as of Jan. 1, 2012 and 7.189.7 billion manat as of Nov. 2011.
As of January-October 2012, the expanded monetary base amounted to 9.365.1 billion manat in Azerbaijan. According to the CBA, monetary base increased by 28.8 percent per annum and by 10.3 percent compared to early 2012. As of November 1, 2011, the index hit 7.270.4 billion manat. As of January 1, 2012, it hit 8.489.4 billion manat.
During the reported period, money in circulation amounted to 8.887.5 billion manat, while as of Nov. 1, 2011 this figure was 6.849.3 billion manat, as of Jan. 1, 2012 - 7.658.5 billion manat.
The bank reserves were equal to 458.8 million manat or by 12 percent more than as of Nov. 1, 2011 (409.6 million manat), and by 55.5 percent less than the index as of early 2012 (826.4 million manat).
The ratio of the mass of cash in circulation to the money base amounted to 94.9 percent during the reporting period compared to 94.2 percent as of Nov. 1, 2011 and 90.2 percent as of Jan. 1, 2012.
The official exchange rate is 0,7850 AZN/USD on Dec. 29.