Azerbaijani banks' reserves increase by almost a quarter

Business Materials 4 September 2014 18:44 (UTC +04:00)

Baku, Azerbaijan, Sept. 4

By Zulfiyya Kurbanova - Trend:

The expanded monetary base in Azerbaijan amounted to 11.858.1 billion AZN as of August 1, 2014, according to the Azerbaijani Central Bank's statistics report.

The monetary base increased by 12.6 percent per annum, according to the report. For comparison, this figure amounted to 10.528.8 billion AZN as of July 2013.

As of August 1, 2014, the monetary base in manat amounted to 11.736.5 billion AZN compared to 10.427.6 billion AZN as of August 1, 2013.

During the reporting period the volume of money in circulation amounted to 11.144.4 billion AZN, while as of August 1, 2013, this figure was 9.924.8 billion AZN.

The ratio of cash money mass in circulation to the monetary base amounted to 94 percent as of August 1, 2014 compared to 94.3 percent as of August 1, 2013.

In turn, bank reserves were equal to 702.1 million AZN which is 21.1 percent more than in July 2013 (579.8 million AZN).

The official exchange rate is 0, 7843 AZN/USD on Sept. 4.