Bank reserves decrease in Azerbaijan

Business Materials 11 June 2015 11:24 (UTC +04:00)

Baku, Azerbaijan, June 11

By Azad Hasanli - Trend:

The reserves of Azerbaijani banks decreased by 0.2 percent in April 2015. They increased by 40.17 percent compared to the same period of last year and amounted 858.3 million manat as of May 1, the report of the Central Bank of Azerbaijan (CBA) as of January-April 2015 said.

For comparison, the bank reserves amounted to 859.4 million manat as of March 2015, while 612.3 million manat in April 2014.

The expanded monetary base in Azerbaijan totaled 7.870 billion manat as of May 1, 2015 or by 11.77 percent less compared to the previous month.

In annual terms, the monetary base in Azerbaijan decreased by 29.9 percent. For comparison, as of April 2014, this figure was 11.229 billion manat.

As of May 1, 2015, the monetary base in manat amounted to 7.419 billion manat versus 8.339 billion manat in March, 9.110 billion manat in February and 10.551 billion manat in January and 11.105 billion manat as of May 1, 2014.

In the mentioned period, the volume of money in circulation amounted to 7.009 billion manat, while this figure was 8.055 billion manat in late March, 8.701 billion manat in February, 10.145 billion manat in January and 10.607 billion manat as of May 1, 2014.

The ratio of the mass of cash in circulation to the monetary base was 89.1 percent as of April 2015, decreasing by 1.4 percent compared to the previous month and by 9.4 percent as of May 1, 2014 (94.5 percent).

The official exchange rate is 1.0478 AZN/USD June 11.

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