Azerbaijani banks reduce reserves in Aug.
Baku, Azerbaijan, Oct. 12
By Anvar Mammadov - Trend:
As of September 1, 2015, the bank reserves in Azerbaijan amounted to 762.7 million manat, which is 6.5 percent more than in the same period of 2014 (716 million manat). They reduced by 1.94 percent in August, the Azerbaijani Central Bank's report as of January-August 2015 says.
The expanded monetary base in Azerbaijan totaled 6.886 billion manat as of Sept. 1, 2015.
In annual terms, the monetary base in Azerbaijan decreased by 41.95 percent. For comparison, as of August 2014, this figure was 11.863 billion manat. The monetary base reduced by 11.64 percent in Azerbaijan compared to late July (7.793 billion manat).
As of September 1, 2015, the monetary base in manat amounted to 6.352 billion manat versus 11.744 billion manat as of September 1, 2014.
In the mentioned period, the volume of money in circulation amounted to 6.118 billion manat, while this figure was 11.134 billion manat as of Sept. 1, 2014.
The ratio of the mass of cash in circulation to the monetary base was 88.9 percent as of September 1, 2015, decreasing 5 percent compared to the same index as of September 1, 2014.
The official exchange rate is 1.0474 AZN/USD Oct. 12.
Edited by CN
follow the author on Twitter: @Anvar_Mammadov