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Monetary base in Azerbaijan drops annually - Central Bank

Finance Materials 4 May 2021 17:19 (UTC +04:00)
Monetary base in Azerbaijan drops annually - Central Bank

BAKU, Azerbaijan, May 4

By Sadraddin Aghjayev - Trend:

The monetary base in Azerbaijan amounted to 13.2 billion manat ($7.76 billion) at the end of April 2021, Trend reports citing the Central Bank of Azerbaijan (CBA).

According to the CBA, the monetary base in Azerbaijan over the reporting month decreased by 33.4 million manat ($19.6 million), or 0.25 percent. On an annualized basis, this figure increased by 3.21 billion manat ($1.88 billion), or 24.2 percent.

“The CBA's monetary policy tools have been 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 is observed,” the CBA stated.

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

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