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Azerbaijan says money base recovers

Azerbaijan says money base recovers

03 June 2009 14:26 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of June 1, the national currency (manat) monetary base stood AZN 3 820.5 million, up 15% or AZN 499.3 million from a year ago, said the Central Bank of Azerbaijan.

However, manat money stock declined by 20.1% or AZN 960.8 million during January-May.

The monetary base declined four consecutive months during 2008 but started to increase in May.

The rise was 3.8% or AZN 140.9 million in May.

The monetary base (i.e. the reserve money) includes currency in circulation and reserves which commercial banks hold in their accounts with the central bank.

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