Azerbaijan's money supply in manat notably up for 8M2021

BAKU, Azerbaijan, Sept.22

By Zeyni Jafarov - Trend:

The Money Supply Rate (М2) in Azerbaijan has grown in the first eight months of 2021, Trend reports on Sept.22 referring to the statistics bulletin of Central Bank of Azerbaijan (CBA).

According to the CBA, this figure amounted to 21.9 billion manat ($12.9 billion), which is 21.2 percent more than in the first eight months of 2020 (18.1 billion manat or $10.65 billion).

From January through August of this year, the amount of Cash Money Supply (M0) increased by 1.14 billion manat ($670 million) or 11.6 percent up to 10.98 billion manat ($6.46 billion) compared to the same period of 2020 (9.85 billion manat or $5.8 billion), and Broad Money Supply (M3) - by 4.3 billion manat ($2.5 billion) or 16.2 percent to 31.3 billion manat ($18.4 billion) against 26.9 billion manat ($15.8 billion) a year earlier.

Besides, the amount of Transaction money (M1) was 3.2 billion manat ($1.8 billion) or 20.7 percent more than in the first eight months of 2020 (15.69 billion manat or $9.23 billion), making up 18.94 billion manat ($11.14 billion).

Parameters of the money market in Azerbaijan are as below:

M0 = cash in circulation (banknotes and coins).

M1 = M0 + demand deposits (including bank debit cards), balances in national currency in the accounts of non-financial institutions, financial (except credit) organizations.

M2 = M1 + fixed-term deposits.

M3 = M2 + savings deposits, state bonds.

(1 USD = 1.7 AZN on Sept.22)

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