Azerbaijani banks' reserves increase by one-third over year
Azerbaijan, Baku, June 1 / Trend /
Azerbaijan's monetary base demonstrated a steady increase in January-April 2013, and as of May 1 the expanded monetary base in the country amounted to 10.190 billion manat.
According to the statistics of the Central Bank of Azerbaijan (CBA) published on its website, monetary base at an annual rate increased by 23.93 percent. In comparison, this figure amounted to 8.223 billion manat in January-April 2012.
According to CBA, as of May 1, 2013, the monetary base in manat amounted to 10.094 billion manat compared to 8.145 billion manat in 2012.
During the reporting period, the volume of money in circulation amounted to 9.518 billion manat, while on May 1, 2012 this figure stood at 7.710 billion manat.
In turn, bank reserves amounted to 646.5 million manat, which is 30.2 percent more than in April 2012 (496.6 million manat).
The weight ratio of cash in circulation to the monetary base as of May 1, 2013 totaled 93.4 percent compared to 93.8 percent on May 1, 2012.
The official exchange rate on June 1 is 0.7846 AZN / USD.