BAKU, Azerbaijan, July 12
By Zeyni Jafarov - Trend:
The nominal effective exchange rate, weighted in non-oil trade during May, increased by 1.5 percent since early 2021, while the real effective exchange rate - by 2.1 percent, Trend reports on July 12 referring to the statistics report of the Central Bank of Azerbaijan (CBA).
According to the CBA, the rise in the nominal effective exchange rate is associated with the fall in the exchange rates of the countries - the main trade partners of Azerbaijan in relation to the Azerbaijani manat.
The main factor stimulating the growth of the real effective exchange rate is the difference between the appreciation of the nominal effective exchange rate and the inflation rate.
By early June, the money supply in manat terms (M2) increased by 723.1 million manat ($425.3 million) and amounted to 21.6 billion manat ($12.7 billion).
Expanded money supply (M3) increased by 703.1 million manat ($413.6 million) and amounted to 30.5 billion manat ($17.9 billion). Changes in the monetary aggregates M2 and M3 are mainly stipulated by an increase in the M1 monetary aggregate.
----
Follow the author on Twitter:@jafarov_zeyni