Azerbaijani banks double reserves
Baku, Azerbaijan June 13
By Azad Hasanli - Trend:
The bank reserves in Azerbaijan neared 1.631 billion manats as of May 1, 2016, or twice as much as in April 2015 (858.3 million manats), read a report issued by the country's Central Bank (CBA).
Official exchange rate on June 13 is 1.5114 AZN/USD.
The report said the monetary base in the country as of May 1, 2016, neared 7.473 billion manats, or 5.05 percent less compared to the same period 2015.
This figure exceeded 7.870 billion manats as of April 2015. The monetary base in Azerbaijan has decreased by 1.16 percent as compared to early 2016.
The monetary base in manats exceeded 6.726 billion manats as of May 1, 2016, as compared to around 7.419 billion manats as of May 1, 2015, said the CBA.
The volume of currency in circulation neared 5.835 billion manats during the reporting period, while this figure stood at around 7.009 billion manats as of May 1, 2015.