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Azerbaijani banks double reserves

Business Materials 10 May 2016 19:59 (UTC +04:00)

Baku, Azerbaijan, May 10

By Anvar Mammadov - Trend:

The bank reserves amounted to 1.78 billion manat in Azerbaijan as of April 1, 2016 or by two times more than in March 2015 (859.4 million manat), said the report of the Azerbaijani Central Bank as of March 2016.

As of May 10, the official exchange rate is 1.5094 AZN/USD.

The expanded monetary base in Azerbaijan totaled 7.4 billion manat as of April 1, 2016, according to the report.

In annual terms, the monetary base in Azerbaijan decreased by 17.04 percent. For comparison, as of March 2015, this figure was 8.92 billion manat. The monetary base reduced by 2.1 percent in Azerbaijan compared to early 2016 (7.56 billion manat).

As of April 1, 2016, the monetary base in manat amounted to 6.54 billion manat versus 8.34 billion manat as of April 1, 2015.

In the mentioned period, the volume of money in circulation amounted to 5.61 billion manat, while this figure was 8.06 billion manat as of April 1, 2015.

The ratio of the mass of cash in circulation to the monetary base was 75.8 percent as of April 1, 2016, decreasing by 14.5 percent compared to the same index as of April 1, 2015.

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