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Azerbaijan says money base increases

Azerbaijan says money base increases

11 August 2009 11:31 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of August 1, the national currency (manat) monetary base stood AZN 4 129.1 million, up 6.6% or AZN 256.1 million from a year ago, said the Central Bank of Azerbaijan.

However, manat money stock declined by 13.6% or AZN 652.2 million during January-July.

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

The rise was AZN 140.9 million in May, AZN 68.4 million in June and AZN 240.2 million in July.

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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