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Azerbaijan's Central Bank ramps up its currency reserves

Finance Materials 3 July 2020 10:12
Azerbaijan's Central Bank ramps up its currency reserves

BAKU, Azerbaijan, July 3

By Eldar Janashvili - Trend:

Currency reserves of the Central Bank of Azerbaijan (CBA) amounted to $6.43 billion as of July 1, 2020, Trend reports referring to the bank’s statistical data.

Since the early 2020, the currency reserves of CBA have increased by 0.3 percent (from $6.41 billion to $6.43 billion). The currency reserves’ year-on-year growth made up 8 percent (from $5.9 billion to $6.41 billion).

The currency reserves of CBA increased by 22 million manat ($12.94 million) in June 2020.

As of July 1, 2020, the money supply amounted to 10.9 billion manat ($6.4 billion), which is 10.1 percent less compared to the late 2019. Year-on-year increment of the money supply from July 1, 2019 through July 1, 2020 has made up 8.4 percent.

The volume of circulated CBA notes as of July 1 this year made up 756.2 million manat ($444.8 million), which is by 122.6 million manat ($72.1 million) or 13.9 percent more than the volume as of early May 2020.

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Follow the author on Twitter: @eldarjanashvili

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