Monetary aggregates up in Azerbaijan - Central Bank

Finance Materials 18 February 2021 19:32 (UTC +04:00)
Monetary aggregates up in Azerbaijan - Central Bank

BAKU, Azerbaijan, Feb.18

By Zeyni Jafarov - Trend:

The change dynamics in monetary aggregates for 2020 was variable, Trend reports on Feb.18 referring to the review of the monetary policy of the CBA (Central Bank of Azerbaijan).

According to the review, the money supply, which has decreased since early 2020, grew by the end of the year along with rise in the budgetary expenditures of the bank’s treasury.

Besides, over the past year, the monetary base in the national currency manat increased by 11.6 percent and by the end of the year amounted to 13.6 billion manat ($8 billion). The volume of cash in circulation (M0), which is a structural element of the monetary base of the national currency, rose by 13.8 percent in the reporting year, while the balance of correspondent accounts in manat decreased by 1.2 percent.

As the review showed, the broad money supply (M3) for 12 months of 2020 increased by 1.1 percent, reaching 29.2 billion manat ($17.18 billion), and the money supply in the national currency (M2) - by 11.3 percent, up to 20.3 billion manat ($11.9 billion).

As of early February 2021, the CBA’s foreign exchange reserves has made up over $6.3 billion, and monetary base - 12.7 billion manat ($7.4 billion).

(1 USD = 1.7 AZN on Feb.18)