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Azerbaijan's monetary base grows over year

Finance Materials 2 February 2021 12:17
Azerbaijan's monetary base grows over year

BAKU, Azerbaijan, Feb.2

By Zeyni Jafarov - Trend:

The monetary base in Azerbaijan as of early February 2021 has made up over 12.7 billion manat ($7.4 billion), Trend reports on Feb.2 referring to the Central Bank of the country (CBA).

According to the CBA, compared to Jan.2021 the monetary base lowered by 782.2 million manat ($460.1 million) or 5.8 percent, while in annual terms grew by 1.24 billion manat ($730 million) or 10.7 percent.

The regulator's monetary policy instruments were implemented within the interest rate corridor. At the auctions organized by the Central Bank for the placement of deposits and short-term notes, an excess of demand over supply has been recorded.

The monetary base involves cash and free banking and required reserves of commercial banks in circulation.

(1 USD = 1.7 AZN on Feb.2)

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Follow the author on Twitter: @jafarov_zeyni

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