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Azerbaijan sees increase in volume of deposits in national currency

Finance Materials 1 April 2021 16:12 (UTC +04:00)
Azerbaijan sees increase in volume of deposits in national currency

BAKU, Azerbaijan, Apr.1

By Zeyni Jafarov - Trend:

The total volume of deposits in Azerbaijan amounted to about 23.5 billion manat ($13.8 billion) in February 2021, which is 5.8 percent less compared to February 2020, Trend reports citing a report of the Central Bank of Azerbaijan (CBA).

According to the Central Bank, the volume of deposits of non-financial organizations decreased by 5.9 percent over the year, amounting to 13.3 billion manat ($7.82 billion).

At the same time, the volume of deposits of individuals declined by 3.6 percent over the year - to 8.38 billion manat ($49.3 billion).

During the reporting period, deposits in foreign currency amounted to 13 billion manat ($7.64 billion), decreasing in annual terms by 13.6 percent.

At the same time, by late February 2021, the volume of deposits in the national currency increased by 6.2 percent compared to February 2020, reaching 10.4 billion manat ($6.11 billion).

(1 USD = 1.7 AZN on Apr.1)

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