Azerbaijan sees money supply on decline

Azerbaijan sees money supply on decline
# 11 August 2009 09:47 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. As of July 1, M2 broad money reached AZN 4 872 million, down 19.9% from early this year, said the Central Bank of Azerbaijan.

M2 money supply includes total cash in circulation outside banks (M0), the amount in demand accounts, current accounts, term deposits in national currency.

Besides, M1 money supply which means currency in circulation + checkable deposits (checking deposits, officially called demand deposits, and other deposits that work like checking deposits) + traveler’s checks, plunged by 18.4% during January-June to AZN 4 198.8 million.

M1 represents the assets that strictly conform to the definition of money: assets that can be used to pay for a good or service or to repay debt.

M3 money supply which includes M2 plus large time deposits, institutional money-market funds, short-term repurchase agreements, along with other larger liquid assets, dipped by 21.2% to AZN 6 693.9 million.

M3 broad money fell by 1.2% in June alone.

Cash money supply which means cash outside the central bank (M0) made AZN 3 486.4 million, down 15.9% from January 1.

The share of cash funds in money supply was 71.6%, compared to 68.2% on January 1, 2009.
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