Azerbaijani banks' reserves increase over 10%
Baku, Azerbaijan, Oct. 31
By Azad Hasanli - Trend:
The expanded monetary base in Azerbaijan amounted to 11.646.2 billion AZN as of October 1, 2014, according to the Azerbaijani Central Bank's statistics report.
The official exchange rate is 0, 7844 AZN/USD on Oct. 31.
The monetary base increased by 8.9 percent per annum, according to the report. For comparison, this figure amounted to 10.697.2 billion AZN as of September 2013.
As of October 1, 2014, the monetary base in AZN amounted to 11.546.5 billion AZN compared to 10.697.2 billion AZN as of October 1, 2013.
During the reporting period the volume of money in circulation amounted to 11.042.3 billion AZN, while as of October 1, 2013, this figure was 10.137.6 billion AZN.
The ratio of cash money mass in circulation to the monetary base amounted to 94.8 percent as of October 1, 2014 and remained unchanged compared to October 1, 2013.
The bank reserves were equal to 593.2 million AZN which is 10.5 percent more than in September 2013 (536.8 million AZN).