Baku. Musa Ahmadov - APA-Economics. Slackening of dollarization and seasonal factors influenced dynamic and structure of money supply in the first quarter of 2016, Central Bank of Azerbaijan said in its monetary policy review for January-March 2016.
According to the bank, decline of net foreign assets 9.2% caused the monetary base drop 5.3% to AZN 6,535,800,000. Net domestic assets increased AZN 889.2 mln or 23.2% during the quarter. Decline of manat correspondent accounts by 38% played an important role in lowering of monetary base.
Cash in circulation rose 3.6%. Money multiplier grew 9% to AZN 1.37. in connection with this, manat money supply (M2) advanced 3.1% to AZN 8,943,000,000. In the structure of M2 board, cash and individuals’ deposits increased, legal entities’ deposits fell. M0 money supply surged 5.4%. Individuals’ manat deposits soared 6.4%, legal entities’ manat deposits slid 3.4%. Manat term deposits climbed 6%, demand deposits shed 4.8%. M3 money supply slid 3.1% to AZN 20,635,100,000.
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