Azerbaijani banks' reserves increase by almost a quarter

Business Materials 5 August 2014 16:33 (UTC +04:00)

Baku, Azerbaijan, Aug. 5


The expanded monetary base in Azerbaijan amounted to 11.580.6 billion manat as of July 1, 2014, according to the Azerbaijani Central Bank's statistics report.

The monetary base increased by 12.1 percent per annum, according to the report. For comparison, this figure amounted to 10.329.9 billion manat as of June 2013.

As of July 1, 2014, the monetary base in manat amounted to 11.485.2 billion manat compared to 10.265.2 billion manat as of July 1, 2013.

During the reporting period the volume of money in circulation amounted to 10.905.9 billion manat, while as of July 1, 2013, this figure was 9.765.2 billion manat.

The ratio of cash money mass in circulation to the monetary base amounted to 94.2 percent as of July 1, 2014 compared to 94.5 percent as of July 1, 2013.

In turn, bank reserves were equal to 663.3 million manat which is 23 percent more than in June 2013 (539.3 million manat).

The official exchange rate is 0,7843 AZN/USD on Aug. 5.