BAKU, Azerbaijan, June 1
By Zeyni Jafarov - Trend:
The total volume of the monetary base increased on an annualized basis by 2.9 billion manat ($1.7 billion) or by 26.9 percent in Azerbaijan as of late May 2021, Trend reports on June 1 with reference to the Central Bank of Azerbaijan (CBA).
According to the CBA, the monetary base amounted to 13.8 billion manat ($8.1 billion) in Azerbaijan as of late May 2021. This figure increased by 575.2 million manat ($338.3 million) or 4.3 percent over the past month.
According to the CBA’s statement, the CBA's monetary policy instruments have been implemented within the interest rate corridor. There is an excess of demand over supply at the auctions organized by the CBA for the placement of deposits and short-term notes.
The monetary base includes cash, free banking, and required reserves of commercial banks in circulation.
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