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Azerbaijani banks’ reserves increase

Business Materials 11 January 2017 20:56 (UTC +04:00)

Baku, Azerbaijan, Jan. 11

By Azad Hasanli – Trend:

The bank reserves amounted to 2.71 billion manats in Azerbaijan as of Dec. 1, 2016, which is 2.15 times more than in November 2015 (1.26 billion manats), read a report issued by the country’s Central Bank (CBA).

The report said that the broad monetary base in the country as of Dec. 1, 2016, amounted to 9.05 billion manats or by 29.3 percent more compared to the same period of 2015.

For comparison: this figure amounted to 7 billion manats as of November 2015. The monetary base increased by 19.8 percent in Azerbaijan compared to early 2016 (7.56 billion manats).

According to the CBA, as of Dec. 1, 2016, the monetary base in manats amounted to 7.7 billion manats compared to 6.73 billion manats as of Dec.1, 2015.

The volume of currency in circulation amounted to 6.33 billion manats during the reporting period, while this figure stood at 5.73 billion manats as of Dec. 1, 2015.

The ratio of cash in circulation to monetary base as of Dec. 1, 2016 amounted to 69.9 percent, decreasing by 12 percentage points compared to late Dec. 2015.

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