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Azerbaijan's monetary base increases

Finance Materials 3 July 2023 20:19 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, July 3. Azerbaijan's monetary base increased as of July 1, 2023, Trend reports.

This figure amounted to 18.1 billion manat ($10.6 billion), up to 2.7 billion manat ($1.59 billion) or 17.56 percent on annual basis.

According to the Central Bank of Azerbaijan (CBA), as of July 1, 2022, the country's monetary base equaled 15.65 million manat ($9.2 million).

In addition, as of early July this year, monetary base of Azerbaijan grew by 1.05 million manat ($620,000) or 6.06 percent in monthly terms.

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

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