Azerbaijan’s bank reserves increased by nearly 7% in a year
Azerbaijan, Baku, Jan. 7/ Trend /
The monetary base in Azerbaijan in 2012 showed continued growth; between January and November of 2012, expansion of the monetary base in the country totaled 9.4 billion manat.
According to the Azerbaijani Central Bank's statistics data, the annualized monetary base increased by 25.8%, as compared with the beginning of last year's 11.05%. For comparison: as of December 1, 2011 the rate was 7.4 billion manat, as of January 1, 2012 it was 8.4 billion manat.
According to the Central Bank of Azerbaijan, as of December 1, 2012, the monetary base totaled 9.346 billion Manat compared to 9.299 billion (the previous absolute record) as of October 1, 2011, 8.275 billion manat as of January 1, 2012 and 7.417 billion manat as of December 1, 2011.
During this reporting period, money in circulation amounted to 8.826 billion manat, while as of December 1, 2011 this figure was 6.937 billion manat, as of January 1, 2012 it was 7.658.5 billion manat.
The bank reserves were equal to 579 million manat or by 6.6% more than those on December 1, 2011 (542.9 million manat), and by 29.9% 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 93.6% during the reporting period compared to 92.6% as of December 1, 2011 and 90.2% as of January 1, 2012.
The official exchange rate for January 7 is 0.7847 AZN / USD.