Azerbaijani banks’ reserves increase
Baku, Azerbaijan, June 9
By Anvar Mammadov – Trend:
The bank reserves in Azerbaijan amounted to 3.49 billion manats as of May 1, 2017, which exceeds the bank reserves’ amount in the country as of April 2016 by over 2 times (1.63 billion manats), read a report issued by the country’s Central Bank (CBA).
The report said that the broad monetary base in Azerbaijan as of late April 2017 amounted to 10.36 billion manats or by 38.7 percent more compared to the same period of 2016. For comparison: this figure amounted to 7.47 billion manats as of late April 2016.
According to the CBA, as of May 1, 2017, the monetary base in manats amounted to 7.63 billion manats compared to 6.73 billion manats as of May 1, 2016.
The volume of currency in circulation amounted to 6.83 billion manats during the reporting period, while this figure stood at 5.83 billion manats as of May 1, 2016.
The ratio of cash in circulation to monetary base as of May 1, 2017 amounted to 65.9 percent, decreasing by 12.2 percentage points compared to late April 2016.