Reserves of Azerbaijani banks down by over 19%
Baku, Azerbaijan, Jan. 15
By Anvar Mammadov – Trend:
As of December 1, 2017 bank reserves amounted to 2.19 billion manats in Azerbaijan that is by 19.5 percent less than in November 2016 (2.72 billion manats).
According to a report of the Central Bank of Azerbaijan, as of late November 2017, expanded monetary base slightly exceeded 10 billion manats (an increase of 10.4 percent as compared to the same period of 2016) in the country.
This indicator stood at 9.06 billion manats in late November 2016.
The report says that as of December 1, 2017, the monetary base totaled 8.69 billion manats as compared to 7.7 billion manats in December 2016.
During the period, the amount of cash in circulation was 7.76 billion manats, while this figure stood at 6.33 billion manats as of December 1, 2016.
The ratio of cash in circulation to monetary base as of December 1, 2017 amounted to 77.6 percent, increasing by 7.7 percentage points as compared to late November 2016.
(1.7001 AZN = 1 USD on Jan. 15)