Bank reserves decrease by 6% in Azerbaijan

Business Materials 11 April 2014 17:23 (UTC +04:00)

Baku, Azerbaijan, April 11

By Emin Aliyev - Trend

The expanded monetary base in the country amounted to 11.244.6 billion manat as of March 1, according to the statistics report of the Azerbaijani Central Bank.

The monetary base increased by 11.1 percent per annum, according to the Central Bank of Azerbaijan (CBA). For comparison, this figure amounted to 10.116.8 billion manat as of February 2013.

As of March 1, 2014, the monetary base in manat amounted to 11.136.5 billion manat compared to 10.042.1 billion manat as of March 1, 2013.

During the reporting period the volume of money in circulation amounted to 10.617.8 billion manat, while as of March 1, 2013, this figure was 9.440.8 billion manat.

The ratio of cash money mass in circulation to the monetary base amounted to 94.4 percent as of March 1, 2014 compared to 93.3 percent as of March 1, 2013.

In turn, bank reserves were equal to 617.7 million manat which is six percent less than in February 2013 (656.6 million manat).

The official exchange rate is 0.7844 AZN/USD on April 11.

Translated by NH
Edited by CN