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Reserves of Azerbaijani banks decrease

Business Materials 8 December 2017 18:42 (UTC +04:00)

Baku, Azerbaijan, Dec. 8

By Anvar Mammadov – Trend:

As of November 1, 2017, bank reserves totaled 2.11 billion manats in Azerbaijan, decreasing by 14.9 percent (2.48 billion manats) as compared to October 2016.

According to the Central Bank of Azerbaijan (CBA), as of late October 2017, the expanded monetary base amounted to 9.83 billion manats in the country (an increase by 11.8 percent as compared to late October 2016). This figure was 8.79 billion manats as of late October 2016.

As of November 1, 2017, monetary base totaled 8.53 billion manats in Azerbaijan as compared to 7.45 billion manats in early November 2016.

During the period, the amount of cash in circulation was 7.67 billion manats, while this figure was 6.29 billion manats as of November 1, 2016.

The ratio of cash in circulation to monetary base as of November 1, 2017 amounted to 78.1 percent, increasing by 6.6 percentage points compared to late October 2016.

(1.7 manats = $1 on Dec. 8)

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