Azerbaijani banks increase reserves

Business Materials 8 July 2015 11:29 (UTC +04:00)

Baku, Azerbaijan, July 8

By Azad Hasanli - Trend:

The expanded monetary base in Azerbaijan totaled 7.984 billion manat as of June 1, 2015, the report of the Central Bank of Azerbaijan as of January-May said.

In annual terms, the monetary base in Azerbaijan decreased by 29.76 percent in 2014. For comparison, as of April 2014, this figure was 113.5 billion manat or by 1.44 percent.

As of June 1, 2015, the monetary base in manat amounted to 7.597 billion manat versus 11.272 billion manat as of June 1, 2014.

In the mentioned period, the volume of money in circulation amounted to 7.129 billion manat, while this figure was 10.750 billion manat as of June 1, 2014.

The ratio of the mass of cash in circulation to the monetary base was 89.3 percent as of January 1, 2015, decreasing by 5.3 percent compared to the same figure as of June 1, 2014.

The bank reserves amounted to 849.2 million manat during this period or by 41.56 percent more than in the same period of 2014 (599.9 million manat).

The official exchange rate is 1.0492 AZN/USD July 8.


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